Understanding Your AppraisalMost people think of an appraisal as a line item in a home purchase. It's actually useful in far more situations than that — here's why it matters, and what actually goes into one.
Certified Residential Appraisers
USPAP Compliant
Licensed in NY & NJ
Serving Rockland, Orange, Westchester & Bergen
Why Get an Appraisal?An independent, certified appraisal comes in handy far more often than most people realize. Divorce SettlementsWhether the outcome is a sale or a buyout, an appraisal gives both parties a fair, unbiased number to work from. Estate & Date-of-DeathProbate often requires establishing fair market value as of a specific date — USPAP confidentiality rules protect the family's privacy throughout. Employee RelocationWe work around your schedule and welcome input on recent updates, sales, or listings that should factor into the value. Buying a HomeAn objective, third-party opinion of market value gives you peace of mind that you're offering a fair price before you commit. Selling Your HomeUnlike a real estate agent, an appraiser has no financial stake in your sale price — so you get an honest read on what upgrades are worth doing, and what your home should realistically list for. Refinancing or a Home Equity LoanConsolidating debt or tapping into your equity almost always requires a fresh appraisal to support the new loan. PMI RemovalOnce your loan-to-value ratio drops below 80%, federal law entitles you to drop Private Mortgage Insurance — an appraisal is how you prove it, and the fee is usually recovered within a few months of dropped payments. Foreclosure & REOProperties in foreclosure or already bank-owned come with unique appraisal challenges — we know how to navigate them. What an Appraisal Actually IsThe number that keeps a transaction fair. An appraisal is an unbiased estimate of what a property is worth — for buyer, seller, and lender alike. Depending on the property, we use up to three approaches to get there. 1
InspectionWe visit the property to confirm bedrooms, bathrooms, layout, condition, and square footage first-hand, and note anything that could affect value. 2
AnalysisCost approach — what it would cost to rebuild today. 3
ReconciliationWe combine those approaches into one supported opinion of market value — the benchmark lenders and clients rely on.
It's not necessarily the exact price a home will sell for — buyer motivation and market conditions still play a role — but it's the number both sides can trust to make sure no one is overextending on the deal.
Ready for your own appraisal?Give us a call for a free fee quote, or reach out through our Contact page — we're happy to answer any questions before you order. |