Reasons to hire an appraiser
To a lot of people, an appraisal is simply a line item on the break-sheet for a home purchase or refinance. Even though there are a developing number of automated home valuation methods that may appear to be more prudent than an appraisal, nearly all lenders still call in a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more instances when the services of a licensed, independent real estate professional might be helpful? Of course.
Dispute your tax assessment
If you reside 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 capable of assisting you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask home buyers to purchase this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Gold Coast Appraisal Group LLC can provide you with a statement regarding the value of your home. The cost of the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the strenuous decision of who maintains the home, and it can be an especially horrible ordeal for both parties. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Gold Coast Appraisal Group LLC, regardless of the circumstances.
If the parties want to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Bergen County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home quickly — at the right price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.