Reasons to order an appraisal from Gold Coast Appraisal Group LLC
Each year, thousands of people in New Jersey buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might appear more cost-effective than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are other cases when the services of a licensed, independent real estate professional could be helpful.
Dispute your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Gold Coast Appraisal Group LLC is your best evidence when building your case. We can assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the real estate. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Gold Coast Appraisal Group LLC will produce a statement regarding the value of your home. The cost of the home valuation can generally be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a very daunting ordeal for both parties, and it is often further complicated by the challenging decision of who gets the house. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from Gold Coast Appraisal Group LLC, regardless of the circumstances.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain a fair and accurate valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the highest degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Bergen County through an employee relocation program
We understand the headaches associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — at an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose to sell your home on your own or use the assistance 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 a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, seeking a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.