Reasons someone would use the services of Romano & AssociatesTo a lot of us, an appraisal is simply one more thing on the settlement sheet for a home purchase or refinance. Almost all lenders still call in a local expert because the stakes are very high, even though there are an increasing number of automated home valuation systems that might appear to be more prudent than an appraisal. But is securing a mortgage the only basis for getting an appraisal? Are there other instances when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Dispute your tax assessmentIf you reside 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 Romano & Associates is your best evidence. We're equipped to assist you in disputing your tax assessment.
Let Romano & Associates help you lower your mortgage paymentPrivate Mortgage Insurance, or PMI, is an extra insurance policy that most lenders ask homeowners to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the home. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
Romano & Associates can give you a statement regarding the value of your home, and the price you paid for the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
Settling a divorce with less stressA divorce can be a very traumatic event for both parties, and it is often more complicated by the strenuous decision of who keeps the house. It's a good idea to get an appraisal from Romano & Associates so both parties are fully aware of the true market value of their property, regardless of the circumstances.
The parties will have a good idea 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 gotten a fair evaluation.
Fair and accurate estate liquidation with Romano & AssociatesSettling an estateThe 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 Market Value for the real estate involved. We guarantee the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these affairs. 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 vital importance to ensuring disputing parties leave knowing they've received an honest deal.
RelocatingMoving due to a job change can be a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any current sales or listings in their area that they want considered during our detailed process.
Don't sell out short or let your home stay on the market too long.A professional appraisal can help you make a more informed decision when determining your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to decide 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 homes are one the market.