6 Reasons to consider an appraisal from Gold Coast Appraisal Group LLC
Thousands of people in New Jersey buy, sell or refinance their home every year. A lot of these transactions involve a simple line item for an appraisal. Most lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that might seem more practical than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there more situations when the services of a certified, independent real estate professional could be beneficial? Absolutely.
Appeal your tax assessment in Bergen County
If you are in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At Gold Coast Appraisal Group LLC, we're equipped to assist you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, many lenders ask home owners to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this added payment is folded into the monthly mortgage payment and is soon forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Gold Coast Appraisal Group LLC will produce a statement regarding the value of your home, and the price you paid for the home valuation can usually be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the difficult decision of who maintains the house, and it can be a particularly traumatic ordeal for both parties. It's a good idea to get an appraisal from Gold Coast Appraisal Group LLC so both parties are fully aware of the true market value of their property, regardless of the situation.
The parties will have a better idea of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Bergen County for work
Employee relocation is a stressful event, and we understand. We take great care in organizing a convenient appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home quickly — at the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We examine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long houses stay on the market.