Why you should get an appraisal
Thousands of people in Connecticut purchase, sell or refinance their home every year. A lot of these transactions contain a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation methods that might appear to be more prudent than an appraisal. Is obtaining a mortgage the only reason to acquire an appraisal? Are there more times when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Appeal your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from J. Boyles Appraisals, LLC is your best evidence when building your case. At J. Boyles Appraisals, LLC, we're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that almost all lenders ask buyers to buy when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Seeing that extra payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
J. Boyles Appraisals, LLC will give you a statement regarding the value of your home, and the cost of the home valuation can often be offset in just a few months 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 difficult decision of who gets the home, and it can be a particularly daunting experience for both parties. It's a good idea to get an appraisal from J. Boyles Appraisals, LLC so both parties are completely aware of the true market value of their house, regardless of the situation.
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 assessment.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a difficult time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property 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 manage these affairs, unlike wealthier individuals. 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 essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Fairfield County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide remarks on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, getting a professional appraisal is a reliable way to decide 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.