Why Get An Appraisal?

• MORTGAGE PURPOSES
  Refinance- Choose the Mortgage Company first. Then you can request an Appraisal Company to shop your loan needs, fees, etc. Remember, you are the lender's customer.

  Sale- When applying for a mortgage you will need an appraisal on the house you are purchasing. Again you will want to compare rates and then decide which lending institution to apply. You may then request an appraisal Company. The appraiser is an independent voice.

  When you're selling your house, you need to know its value. You can order an appraisal which will provide a basis for an asking price. The appraisal might then help to market the house by showing it to potential buyers.

   
• RELEASE OF PRIVATE MORTGAGE INSURANCE (PMI) - Many homeowners are not aware that they have been paying additional money every month needlessly. If less than 20% was put down on a house when purchasing it, PMI was required. However, after this has been paid for a certain amount of time, and if the house has maintained or increased in value, then PMI is no longer necessary. In order to determine if one qualifies to have PMI cancelled, the bank would require an appraisal to be done to determine that the loan-to-value ratio is less than 80%. If you're not sure whether or not this could apply to you, call the bank that holds your mortgage. It is up to the borrower to establish the fact that property value has not declined
  

• ESTATE VALUATION APPRAISALS - Determine property value for estate tax liability and planning.
  
  
• HOME EQUITY VALUATIONS - Determine the equity (value) a homeowner has above an existing mortgage. This appraisal usually is used in conjunction with home equity loans and second mortgages and financial planning.
  
  
• TAX GRIEVANCES/ASSESSMENT ANALYSIS - This type of appraisal is used to determine whether the property is being fairly assessed by the local municipality for real estate tax purposes. Property owners can contest their taxes once a year.
  
  
• MATRIMONIAL APPRAISALS - An appraisal is necessary when two parties have a joint interest in real estate, and need to determine its value.