Ferri Appraisals in Cranston perform appraisals for a variety of clientsThousands of people in Rhode Island purchase, sell or refinance their home every month. A lot of these transactions contain a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation processes that may appear less expensive than an appraisal. But is obtaining a mortgage the only reason you should get an appraisal? Are there additional times when the services of a certified, independent real estate professional might be helpful? Absolutely.
Dispute your tax assessment in Providence CountyIt's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your home, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from Ferri Appraisals is your best evidence. At Ferri Appraisals,we can assist you in appealing your tax assessment.
Eliminating PMI will lower your mortgage paymentWhen the amount being loaned to the home buyer is more than 80% of the actual value of the property, most lenders ask homebuyers to buy an additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is unfavorable because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Ferri Appraisals will provide you with a statement regarding the value of your home, and the price you paid for the home valuation can usually be offset in little time because you'll no longer be paying the PMI.
An appraisal from Ferri Appraisals will help you settle a divorce with less stressA divorce is a very heartbreaking experience for the parties involved, and it is often more complicated by the difficult decision of who keeps the home. It's a good idea to order an appraisal from Ferri Appraisals so both parties are entirely aware of the true market value of their house, regardless of the situation.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair estate liquidationThe loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up an unequal share of the total estate value, so 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.
Ferri Appraisals can help you with relocating to or from Providence CountyEmployee relocation can be a real pain, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered during our thorough process.
Don't sell out for too little or let your home stay on the market too long.A professional appraisal can help you make a more informed decision regarding your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are based on our efforts to perform the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking 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 homes are one the market.