6 Reasons to order an appraisal from The Welter Appraisal Group
Thousands of people in New Jersey buy, sell or refinance their home every month. A lot of these transactions consist of a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are very high, even though there are a developing number of automated home valuation processes that might appear cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are other times when the services of a licensed, independent real estate professional could be beneficial.
Appeal your tax assessment in Monmouth County
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're equipped to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask homeowners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Since the extra payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
The Welter Appraisal Group can provide you with a statement regarding the value of your home, and the expense of the appraisal can often be offset in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the difficult decision of who keeps the property, and it can be a very traumatic experience for both parties. It's a good idea to get an appraisal from The Welter Appraisal Group so both parties are fully aware of the true market value of their home, 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.
Determine a fair and accurate valuation for estate liquidation
Losing 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 utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Monmouth County for work
We are familiar with the headaches associated with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. 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 homes are one the market.