Why you should get an appraisal from LOUIS FRAGALA

Thousands of people in New York purchase, sell or refinance their home each month. Most of these transactions include a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are very high, even though there are a budding number of automated home valuation methods that might appear to be more prudent than an appraisal. You might believe that securing a mortgage is the only reason to get an appraisal, but there are additional situations when the services of a certified, independent real estate professional could come in handy.

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Contest your tax assessment in Suffolk County

If you reside in an area where the property value has 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 can assist you in disputing your tax assessment.

PMI removal to reduce your mortgage payment

When the amount being loaned to the home owneris more than 80% of the actual value of the property, nearly all lenders ask homeowners to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.

LOUIS FRAGALA will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can usually be regained in just a few months because you'll no longer be paying the PMI.

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Divorce settlement with less stress

A divorce is often complicated by the troublesome decision of who keeps the house, and it can be a very daunting ordeal for both parties. So both parties are completely aware of the true market value of their house, it's a good idea to order an appraisal from LOUIS FRAGALA, regardless of the circumstances.

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 assessment.

Accurate and fair estate liquidation

The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for 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 highest degree of discretion.

Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthy individuals. And since a home or other property often makes up a disproportionate 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.

Relocate to or from Suffolk County through an employee relocation program

We know the stress involved with an employee relocation. That's why we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered during our thorough inspection.

Close on your home quickly — at an accurate price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what price 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.

On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining 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, because we're experts in knowing how long houses are one the market.

Let LOUIS FRAGALA help you sell your home quickly at the right price