When Do You Need An Appraisal
PRE-SALES DECISIONS
Before someone decides to sell a home, there are several decisions to be
made. First and foremost: ''How much should it sell for?'' But first there may
be other equally important questions to ask: ''Would it be better to paint the
entire house first?'' ''Should I put in that third bathroom?'' ''Should I complete
my kitchen remodel?'' Many things which we do to our houses have an effect
on their value. Unfortunately, not all of them have an equal effect. While a
kitchen remodel may improve the appeal of a home, it may not add nearly
enough to the value to justify the expense.
Appraisers can step in and help make these decisions. Unlike a Realtor, an
appraiser has no vested interest in what amount the house sells for. His fee
is based on his efforts, not a percentage of the sales price. So seeking a
professional appraisal can often help homeowners make the best
decisions on investing in their homes and setting a fair sales price.
ESTATE PLANNING, LIQUIDATION OR DIVORCE
The loss of a loved one is a difficult time in life. Likewise, a divorce can be a
particularly traumatic experience. Sadly, these events are often complicated
by difficult decisions regarding the disposition of an estate. 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.
There are other uses for real estate appraisals. The highly-trained
individuals behind these services are always looking for ways to put their
expertise to work for home owners and the people who support them.
Before someone decides to sell a home, there are several decisions to be
made. First and foremost: ''How much should it sell for?'' But first there may
be other equally important questions to ask: ''Would it be better to paint the
entire house first?'' ''Should I put in that third bathroom?'' ''Should I complete
my kitchen remodel?'' Many things which we do to our houses have an effect
on their value. Unfortunately, not all of them have an equal effect. While a
kitchen remodel may improve the appeal of a home, it may not add nearly
enough to the value to justify the expense.
Appraisers can step in and help make these decisions. Unlike a Realtor, an
appraiser has no vested interest in what amount the house sells for. His fee
is based on his efforts, not a percentage of the sales price. So seeking a
professional appraisal can often help homeowners make the best
decisions on investing in their homes and setting a fair sales price.
ESTATE PLANNING, LIQUIDATION OR DIVORCE
The loss of a loved one is a difficult time in life. Likewise, a divorce can be a
particularly traumatic experience. Sadly, these events are often complicated
by difficult decisions regarding the disposition of an estate. 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.
There are other uses for real estate appraisals. The highly-trained
individuals behind these services are always looking for ways to put their
expertise to work for home owners and the people who support them.
Every year, countless people in the United States buy, sell or refinance
their own slice of the American Dream. Most, if not all, of these
transactions include a simple line item for an appraisal. It has become
an understood and accepted part of a real estate transaction.
But is this the only reason to get an appraisal? Are there other times
when the services of a certified, licensed, independent real estate
professional might come in handy?
PROPERTY TAX CHALLENGES
It's a running joke that every one has a different perspective of what a
house is worth. And it's the tax assessor that seems to always come in
at the high end of the scale! Challenging the tax assessment has
become an annual ritual in many parts of the country. Unfortunately,
most people go into these challenges unarmed. They may pull some
information from the internet to support their claims, but have no real
basis other than: ''It wasn't worth that much last year.''
A real estate appraiser can help in these situations. While it may not be
economical to commission a full appraisals to lop a few hundred off
your tax bill, often an appraiser can do a limited appraisal or
neighborhood analysis for much less. These documents can carry a
lot of weight when you appear before an appeals board.
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.
their own slice of the American Dream. Most, if not all, of these
transactions include a simple line item for an appraisal. It has become
an understood and accepted part of a real estate transaction.
But is this the only reason to get an appraisal? Are there other times
when the services of a certified, licensed, independent real estate
professional might come in handy?
PROPERTY TAX CHALLENGES
It's a running joke that every one has a different perspective of what a
house is worth. And it's the tax assessor that seems to always come in
at the high end of the scale! Challenging the tax assessment has
become an annual ritual in many parts of the country. Unfortunately,
most people go into these challenges unarmed. They may pull some
information from the internet to support their claims, but have no real
basis other than: ''It wasn't worth that much last year.''
A real estate appraiser can help in these situations. While it may not be
economical to commission a full appraisals to lop a few hundred off
your tax bill, often an appraiser can do a limited appraisal or
neighborhood analysis for much less. These documents can carry a
lot of weight when you appear before an appeals board.
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.
| Mass Appraisals 11 Meadowview Road, Foxboro MA 02035 Phone (617)620-6061 Fax (775)587)0091 Email info@massappraisalonline.com |
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We are the best place to order a real estate appraisal from a certified real estate appraiser in the Massachusetts area. For a real estate appraisal in massachusetts or from a real estate
appraiser massachusetts or a real estate appraisal boston from a real estate appraiser boston call us. If you want to know what your property or estate is worth a real estate appraisal of
your home in MA, we will give you the best estimate of value for your home. Whether you need a land appraisal or a home appriasal to determine the value of your house in
Massachusetts we can help. Realtors don't always give you the most accurate value estimate of your property. Real estate appraisers know how to value your home and take into account
the current real estate market conditions. Mortgage companies, banks, homeowners who are in the Massachusetts area use our appraisal services, including Norfolk, Worcester, Suffolk,
Plymouth, Bristol, Hamden, Middlesex, Essex, Barnstable, Berkshire, Hampshire, and Franklin counties.
appraiser massachusetts or a real estate appraisal boston from a real estate appraiser boston call us. If you want to know what your property or estate is worth a real estate appraisal of
your home in MA, we will give you the best estimate of value for your home. Whether you need a land appraisal or a home appriasal to determine the value of your house in
Massachusetts we can help. Realtors don't always give you the most accurate value estimate of your property. Real estate appraisers know how to value your home and take into account
the current real estate market conditions. Mortgage companies, banks, homeowners who are in the Massachusetts area use our appraisal services, including Norfolk, Worcester, Suffolk,
Plymouth, Bristol, Hamden, Middlesex, Essex, Barnstable, Berkshire, Hampshire, and Franklin counties.