Why you should get an appraisal from The Welter Appraisal Group
Year after year, thousands of people in New Jersey purchase, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. Almost all lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation systems that might appear less expensive than an appraisal. You might assume that securing a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional could come in handy.
Challenge your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a past assessment of your real estate, so if values have gone down in your area, you can appeal your assessment and save money. An appraisal from The Welter Appraisal Group is your best evidence when building your case. At The Welter Appraisal Group, we're capable of assisting you in challenging your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the property. Most often, this extra payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, The Welter Appraisal Group will provide you with a statement regarding the value of your home. The expense of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is a very traumatic event for the parties involved, and it is often even more complicated by the challenging decision of who maintains the house. So both parties are entirely aware of the true market value of their house, it's a good idea to get an appraisal from The Welter Appraisal Group, regardless of the situation.
The parties will have a better 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.
Determine an accurate and fair valuation for estate liquidation
The loss 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 guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true value 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 through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
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 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.