Why you should hire an appraiser
Each year, thousands of people in New York purchase, sell or refinance their home. Many of these transactions contain 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 developing number of automated home valuation processes that might seem cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to acquire an appraisal, but there are additional instances when the services of a certified, independent real estate professional could be helpful.
Dispute your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. An appraisal from Sirius Appraisal Services is your best evidence when building your case. At Sirius Appraisal Services, 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 extra insurance plan that most lenders ask home buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. More often than not, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Sirius Appraisal Services will give you a statement regarding the value of your home. The cost of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the troublesome decision of who keeps the home, and it can be an especially horrible event for both parties. So both parties are fully aware of the true market value of their house, it's a good idea to get an appraisal from Sirius Appraisal Services, regardless of the situation.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received a fair deal.
Move to or from Queens County through an employee relocation program
We are aware of the stress involved with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive characteristics of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — for the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to finish the appraisal report.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, getting a professional appraisal is a reliable 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.