A+ Appraisal Service, LLC
NJ Residential and Commercial Real Estate Appraisers
| appraisals |
A+ Appraisal Service, LLC
9 Inwood Terrace
Fairfield, NJ 07004
Phone: 973-618-0262 Fax: 973-228-5878
e-mail:aplusappraisalservice
9 Inwood Terrace
Fairfield, NJ 07004
Phone: 973-618-0262 Fax: 973-228-5878
e-mail:aplusappraisalservice
EQUITY LOAN
If you need to consolidate bills, have a college tuition to pay, or
just want to tap into the equity of your home, you'll need a new
loan, which oftentimes requires a new appraisal of the property.
PMI REMOVAL
Private Mortgage Insurance or PMI is the supplemental
insurance that many lenders ask home buyers to purchase
when the amount being loaned is more than 80% of the value of
the home. Very often, this additional payment is folded into the
monthly mortgage payment and is quickly forgotten. This is
unfortunate because PMI becomes unnecessary when the
remaining balance of the loan - whether through market
appreciation or principal paydown - dips below this 80% level. In
fact, the United States Congress passed a law in 1998 (the
Homeowners Protection Act of 1998) that requires lenders to
remove the PMI payments when the loan-to-value ratio
conditions have been met.
Many appraisers offer a specific service for home owners that
believe they have met the 80% loan-to-value metric. For a
nominal fee, the appraiser can provide you with a statement
regarding the home value. Some will even take the next step and
help you file a challenge with your mortgage company. The costs
of these services are very often recovered in just a few months of
not paying the PMI.
DIVORCE SETTLEMENT
A divorce can be a particularly traumatic experience for both
parties and is often further complicated by the difficult decision of
"Who gets the house?". In most divorce cases, the Court won't
usually force the parties involved to "buyout" the other party's
interest but it may however order the sale of the home so each
party gets an equal share of the equity. Regardless of the
situation, it's a good idea to order an appraisal so both parties
are fully aware of what the true market value is.
If the parties want to sell the home, they'll have a better idea of
what price to set. And on the flipside, if a "buyout" is the chosen
option, both parties will feel like they've gotten a fair assessment.
ESTATE LIQUIDATION
The loss of 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 residential property involved.
The ethics provision within the Uniform Standards of
Professional Appraisal Practice (USPAP) binds us with
confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do
not have dedicated estate planners or executors to handle these
issues. Also, in most cases, a home or other real property
makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly
disposing of an estate is to understand its true value. Where
property is involved, the appraiser can help determine the true
value. At this point, equitable arrangements can more easily be
arrived at among disputing parties. Everyone walks away
knowing they've received a fair deal.
RELOCATION
We understand the stress involved with an employee relocation.
We take great care in establishing a convenient appointment
time for the appraisal inspection. During our thorough
inspection, we encourage relocating employees to provide input
on the positive attributes of their property along with information
about any recent sales or listings in their neighborhood that they
want considered.
If you need to consolidate bills, have a college tuition to pay, or
just want to tap into the equity of your home, you'll need a new
loan, which oftentimes requires a new appraisal of the property.
PMI REMOVAL
Private Mortgage Insurance or PMI is the supplemental
insurance that many lenders ask home buyers to purchase
when the amount being loaned is more than 80% of the value of
the home. Very often, this additional payment is folded into the
monthly mortgage payment and is quickly forgotten. This is
unfortunate because PMI becomes unnecessary when the
remaining balance of the loan - whether through market
appreciation or principal paydown - dips below this 80% level. In
fact, the United States Congress passed a law in 1998 (the
Homeowners Protection Act of 1998) that requires lenders to
remove the PMI payments when the loan-to-value ratio
conditions have been met.
Many appraisers offer a specific service for home owners that
believe they have met the 80% loan-to-value metric. For a
nominal fee, the appraiser can provide you with a statement
regarding the home value. Some will even take the next step and
help you file a challenge with your mortgage company. The costs
of these services are very often recovered in just a few months of
not paying the PMI.
DIVORCE SETTLEMENT
A divorce can be a particularly traumatic experience for both
parties and is often further complicated by the difficult decision of
"Who gets the house?". In most divorce cases, the Court won't
usually force the parties involved to "buyout" the other party's
interest but it may however order the sale of the home so each
party gets an equal share of the equity. Regardless of the
situation, it's a good idea to order an appraisal so both parties
are fully aware of what the true market value is.
If the parties want to sell the home, they'll have a better idea of
what price to set. And on the flipside, if a "buyout" is the chosen
option, both parties will feel like they've gotten a fair assessment.
ESTATE LIQUIDATION
The loss of 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 residential property involved.
The ethics provision within the Uniform Standards of
Professional Appraisal Practice (USPAP) binds us with
confidentiality, ensuring the fullest degree of discretion.
Unlike many wealthy individuals, the majority of Americans do
not have dedicated estate planners or executors to handle these
issues. Also, in most cases, a home or other real property
makes up a disproportionate share of the total estate value.
Here too, an appraiser can help. Often the first step in fairly
disposing of an estate is to understand its true value. Where
property is involved, the appraiser can help determine the true
value. At this point, equitable arrangements can more easily be
arrived at among disputing parties. Everyone walks away
knowing they've received a fair deal.
RELOCATION
We understand the stress involved with an employee relocation.
We take great care in establishing a convenient appointment
time for the appraisal inspection. During our thorough
inspection, we encourage relocating employees to provide input
on the positive attributes of their property along with information
about any recent sales or listings in their neighborhood that they
want considered.
NJ Residential and Commercial Real Estate Appraisers
Copyright A+ Appraisal Service, LLC
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Every year, countless people in the
United States buy, sell or refinance
their homes.
But are these the only reasons to
get an appraisal? Are there other
times when the services of a
certified, licensed, independent
real estate professional might
come in handy? You bet.
| REASONS TO GET AN APPRAISAL |
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