6 Reasons to choose an appraisal from Gold Coast Appraisal Group LLC
Thousands of people in New Jersey buy, sell or refinance their home every year. Most of these transactions include a simple line item for an appraisal. Even though there are a developing number of automated home valuation systems that might seem less expensive than an appraisal, almost all lenders still want a local expert because the stakes are very high. Is obtaining a mortgage the only basis for getting an appraisal? Are there additional instances when the services of a certified, independent real estate professional might be helpful? Of course there are.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if prices are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in disputing your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to do away with 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 appraisal can usually be offset in just a few months 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 hard decision of who keeps the house, and it can be a very daunting ordeal for both parties. It's a good idea to order an appraisal from Gold Coast Appraisal Group LLC so both parties are completely aware of the true market value of their home, regardless of the situation.
The parties will have a a good idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine a fair and accurate valuation for 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Bergen County for work
We understand the stress associated with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered.
Sell your home promptly — at an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Getting a professional appraisal is a reliable way to determine 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, because we're experts in knowing how long properties are one the market.