Reasons to get an appraisal from Ruffino Appraisal Group, LLC.
Thousands of people in Florida buy, sell or refinance their home every month. Many of these transactions involve a simple line item for an appraisal. Most lenders still want a local expert because the stakes are very high, even though there are a budding number of automated home valuation systems that might appear to be cheaper than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Challenge your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are determined by a past assessment of your real estate, so if prices have gone down in your neighborhood, you can challenge your assessment and save money. An appraisal from Ruffino Appraisal Group, LLC. is your best evidence when building your case. We can assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, nearly all lenders ask home owners to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
Ruffino Appraisal Group, LLC. will give you a statement regarding the value of your home, and the expense of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a very daunting experience for the parties involved, and it is often more complicated by the burdensome decision of who gets the property. Regardless of the situation, it's a good idea to get an appraisal from Ruffino Appraisal Group, LLC. so both parties are fully aware of the true market value of their property.
If the parties wish to sell the home, they'll have a a good idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The death of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the highest 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 manage these affairs, unlike wealthier individuals. A home or other property often makes up a disproportionate 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 a fair deal.
Relocate to or from Broward County for work
We are familiar with the stress involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide remarks on the positive attributes of their property, along with information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.