Reasons to hire an appraiser
To many, an appraisal is simply a line item on the break-sheet for a home purchase or refinance. While there are a multiplying number of automated home valuation systems that may appear cheaper than an appraisal, almost all lenders still want a local expert because the stakes are very high. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be beneficial.
Challenge your tax assessment in Broward County
It's likely you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a past assessment of your home, so if values 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're equipped to assist you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, many lenders ask homeowners to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. Most often, this extra payment is lumped into the monthly mortgage payment and is quickly forgotten. PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
Ruffino Appraisal Group, LLC. will produce a statement regarding the value of your home, and the expense of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce can be a particularly horrible event for both parties, and it is often more complicated by the challenging decision of who maintains the house. So both parties are fully aware of the true market value of their house, it's a good idea to order an appraisal from Ruffino Appraisal Group, LLC., regardless of the circumstances.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The death 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 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 fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Broward County through an employee relocation program
We are familiar with the stress associated with an employee relocation. That being said, we take great care in organizing a convenient 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 inspection.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from 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 and aren't related to the sales price.
We analyze 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 housesare on the market. So, seeking 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.