Why you should order an appraisal
To a lot of people, an appraisal just looks like another cost in the long list of items for a home purchase or refinance. Most lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that may appear to be less expensive than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there additional times when the services of a certified, independent real estate professional might be helpful? You bet there are.
Contest your tax assessment in Bergen County
If you reside in an area where property values have 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 qualified to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask homeowners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to remove the PMI installments 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 cost of the home valuation can often be recovered in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be an especially traumatic experience for both parties, and it is often even more complicated by the strenuous decision of who maintains the property. Regardless of the situation, it's a good idea to get an appraisal from Gold Coast Appraisal Group LLC so both parties are completely aware of the true market value of their property.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to take care of these issues. And since a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Bergen County for work
Employee relocation is a stressful event, and we understand. We take great care in establishing a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — for the right price
A professional appraisal can help you make a more informed decision regarding your selling price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they rest 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. Obtaining 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 properties are one the market.