Why you should get an appraisalTo many, an appraisal just looks like a line item in the long list of items for a mortgage or refinance. Practically all lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that might appear more practical than an appraisal. But is getting a mortgage the only basis for getting an appraisal? Are there also situations when the services of a certified, independent real estate professional could be beneficial? You bet there are.
Dispute your tax assessment in Bergen CountyIt's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. An appraisal from BOGRIS APPRAISAL LLC is your best evidence when building your case. At BOGRIS APPRAISAL LLC, we're equipped to assist you in disputing your tax assessment.Let BOGRIS APPRAISAL LLC help you lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips 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 dismiss the PMI payments when the loan-to-value ratio conditions have been met.BOGRIS APPRAISAL LLC will give you a statement regarding the value of your home, and the expense of the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI. Divorce settlement with less stressA divorce is a very daunting event for the parties involved, and it is often more complicated by the hard decision of who keeps the home. Regardless of the circumstances, it's wise to order an appraisal from BOGRIS APPRAISAL LLC so both parties are entirely aware of the true market value of their home.The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment. Settling an estate with peace of mindThe death of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish 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 fullest degree of discretion.Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these affairs. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the correct value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal. Let BOGRIS APPRAISAL LLC help you with relocating to or from Bergen CountyWe are aware of the stress involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any current sales or listings in their area that they want considered during our thorough process.Don't sell out short or let your home stay on the market too long.A professional appraisal will help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. With much different interests than a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are derived from our efforts to perform the appraisal report and and aren't related to the sales price.On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine 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 - because we're experts in knowing how long properties stay on the market. |
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