Why you may need an appraisal -
There are many circumstances when the services of a professional State Certified Real Estate Appraiser might be beneficial or necessary.
Appraisal reports for Personal, Legal, & Tax Related Issues
• Queens • Nassau County • Brooklyn • Manhattan •
Appraisals for divorce settlement. A professional appraisal will help you settle a divorce with less stress
A divorce can be a particularly daunting event for both parties, and often complicated by the burdensome decision of who gets the property. So both parties are entirely aware of the true market value of their home, it's a good idea to order an appraisal from Tri Borough Appraisals regardless of the situation.
Appraisals for estates. Accurate appraisal reports from Tri Borough Appraisals will help with Settling an estate
Settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of privacy.
Appraisal reports to help you sell your home at Fair Market Value
Whether you decide to sell your home on your own, or use the assistance of a local real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, which may be different than the interest of real estate agents. Our fees are derived from our efforts to perform the appraisal report and and aren't related to the sales price.
Appraisals for challenging your tax assessment.
If you reside in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal is some of your best evidence when building your case. Success in challenging your tax assessment will be greatly increased with a well documented appraisal report.
Appraisals for Bail Bonds or Immigration Bonds (Emergency service available)
The effects on a person from incarceration, even for a short period of time, can be traumatic. There are few situations in which an appraisal legitimately must be done very quickly. An appraisal report needed to determine collateral for a bail or immigration bond, while your loved one is in jail or some other type of custody, qualifies for our highest priority service. These services will be both confidential and discreet to assure your privacy.
Saturday, Sunday, early morning, and late afternoon appointments are available should it be necessary, additional fee will apply. Please note that appraisal inspection appointments will need to be conducted at a time when there is adequate day light for required property observations and photographs.
The opportunity to provide you with our priority service is most welcomed within our service area.
Appraisals for removing PMI might lower your mortgage payment
When the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate, most lenders ask home buyers to take out an additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the balance is paid down to 78% of the original value.