6 Reasons to consider an appraisal from Preferred Appraisers, Inc.

Each year, thousands of people in New Jersey buy, sell or refinance their home. A lot of these transactions include a simple line item for an appraisal. While there are a multiplying number of automated home valuation systems that might appear cheaper than an appraisal, most lenders still call in a local expert because the stakes are so high. You might think that obtaining a mortgage is the only reason to get an appraisal, but there are more situations when the services of a licensed, independent real estate professional might come in handy.

Let Preferred Appraisers, Inc. assist you in lowering your mortgage payment

Challenge your tax assessment in Gloucester County

If you are in an area where property values have depreciated, 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 equipped to assist you in disputing your tax assessment.

Getting rid of your PMI for mortgage payments

Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homebuyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Since the added payment is usually bundled 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 - decreases below the 80% level, making this very unfavorable. In fact, the United States Congress invoked 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, Preferred Appraisers, Inc. can produce a statement regarding the value of your home. The expense 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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Settle a divorce with fewer hang-ups

A divorce can be a particularly daunting ordeal for both parties, and it is often more complicated by the strenuous decision of who maintains the home. Regardless of the circumstances, it's a good idea to get an appraisal from Preferred Appraisers, Inc. so both parties are entirely aware of the true market value of their property.

The parties will have a a good 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 evaluation.

Determine an accurate and fair valuation for estate liquidation

Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for 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.

Unlike wealthier 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 understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.

Relocate to or from Gloucester County for work

Employee relocation can be a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.

Close on your home promptly — for an accurate price

A professional appraisal will help you make a better educated decision when determining your selling 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 amount the house sells for. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.

On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. Obtaining 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 houses stay on the market.

Let Preferred Appraisers, Inc. help you sell your home quickly at the right price