Reasons to order an appraisal from The Welter Appraisal Group

Thousands of people in New Jersey purchase, sell or refinance their home every month. Most of these transactions consist of a simple line item for an appraisal. And while there are an increasing number of automated home valuation systems that might appear more economical than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. Is securing a mortgage the only basis for getting an appraisal? Are there more times when the services of a licensed, independent real estate professional might come in handy? You bet there are.

Let The Welter Appraisal Group assist you in lowering your mortgage payment

Challenge your tax assessment

It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if values are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.

Getting rid of your PMI for mortgage payments

Private Mortgage Insurance, or PMI, is a supplemental insurance policy that most lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

If you'd like to eliminate PMI, The Welter Appraisal Group can give you a statement regarding the value of your home. 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.

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Divorce settlement with fewer hang-ups

A divorce is often complicated by the challenging decision of who keeps the home, and it can be an especially horrible experience for both parties. Regardless of the circumstances, 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 property.

The parties will have a clearer picture of what price to set, if they wish to sell the home. 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 calls for 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, ensuring the highest degree of discretion.

Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike many wealthy individuals. And since 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 gotten a fair deal.

Move to or from Monmouth County for work

We are aware of the headaches associated with an employee relocation. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our thorough inspection.

Close on your home quickly — for an accurate price

A professional appraisal will help you make a more informed decision when determining your selling price, whether you choose 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 aren't related to the sales price, but rather they are calculated on our efforts to complete the appraisal report.

We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Obtaining 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 are one the market.

Let The Welter Appraisal Group assist you in selling your home quickly at the right price