Why you should hire an appraiser
Every year, thousands of people in Massachusetts buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may seem more prudent than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are additional cases when the services of a certified, independent real estate professional could come in handy.
Contest your tax assessment in Norfolk County
If you are in an area where the value of property has declined, 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 capable of assisting you in disputing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home owners to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the home. Seeing that added payment is usually lumped into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Moraski Real Estate Appraisals will give you a statement regarding the value of your home. The expense of the home valuation can usually be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the strenuous decision of who maintains the property, and it can be a particularly traumatic event for both parties. It's a good idea to order an appraisal from Moraski Real Estate Appraisals so both parties are completely aware of the true market value of their house, regardless of the circumstances.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Norfolk County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal will help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.