6 Reasons to order an appraisal from Gold Coast Appraisal Group LLC
Year after year, thousands of people in New Jersey buy, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. And while there are a multiplying number of automated home valuation methods that might appear to be cheaper than an appraisal, the majority of lenders still call in a local expert because the stakes are so high. Is getting a mortgage the only reason to acquire an appraisal? Are there also situations when the services of a licensed, independent real estate professional could be beneficial? You bet there are.
Appeal your tax assessment in Bergen County
If you are in an area where the property value has depreciated, 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.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, most lenders ask buyers to take out this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Gold Coast Appraisal Group LLC can provide you with a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the strenuous decision of who maintains the house, and it can be a very horrible event for both parties. Regardless of the situation, 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 house.
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 gotten a fair evaluation.
Accurate and fair estate liquidation
The death 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. 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 essential 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 know the headaches involved with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, along with information about any new sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal can help you make a more informed decision when determining 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 price the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesare on the market. So, obtaining 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.