Reasons to get an appraisalEvery year, thousands of people in New Jersey buy, sell or refinance their home. A lot of these transactions contain a simple line item for an appraisal. While there are a growing number of automated home valuation processes that might appear less expensive than an appraisal, practically all lenders still want a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there also situations when the services of a certified, independent real estate professional could be helpful? Of course. 
Contest your tax assessment in Bergen CountyIf you live in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Duncan Appraisals is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment. Removing PMI for mortgage paymentsWhen the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask homebuyers to purchase this added insurance policy. That policy is Private Mortgage Insurance, or PMI. More often than not, this additional payment is folded into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the United States Congress implemented 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 do away with PMI, Duncan Appraisals will produce a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in little time because you'll no longer be paying the PMI. Order your appraisal from Duncan Appraisals today Order onlineDivorce settlement with fewer hang-upsA divorce is often complicated by the challenging decision of who gets the home, and it can be a particularly traumatic experience for both parties. Regardless of the situation, it's a good idea to get an appraisal from Duncan Appraisals so both parties are entirely aware of the true market value of their house. The parties will have a a good idea of what price to set, if they wish to sell the home. 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 liquidationLosing a loved one is a difficult 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, ensuring the utmost degree of discretion. Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal. Move to or from Bergen County through an employee relocation programEmployee relocation can be a stressful event, and we understand. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive features of their property, along with information regarding any current sales or listings in their neighborhood that they want considered. Close on your home quickly — at the right priceA professional appraisal will help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they are based 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 propertiesstay on the market. So, getting a professional appraisal is a trusted way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time. 
|
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.