Why you should order an appraisal

Each year, thousands of people in New York buy, sell or refinance their home. Most of these transactions include a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may appear more economical than an appraisal. You might believe that securing a mortgage is the only reason you should get an appraisal, but there are additional instances when the services of a certified, independent real estate professional could be helpful.


	Order appraisals on this website by simply clicking here.

Dispute your tax assessment in Broome County

It's probable you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a past assessment of your house, so if prices have gone down in your area, you can challenge your assessment and save money. When building your case, an appraisal from Jim Murray Appraisal Service is your best evidence. At Jim Murray Appraisal Service, we're qualified to assist you in appealing your tax assessment.

How can you eliminate PMI to lower your mortgage payment?

Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask homeowners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the real estate. This added payment is often folded into the monthly mortgage payment and is soon forgotten. This is damaging because PMI is unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI installments on most mortgages when the balance is paid down to 78% of the original value.

If you'd like to eliminate PMI, Jim Murray Appraisal Service can provide you with a statement regarding the value of your home. The cost of the home valuation can generally be offset in little time because you'll no longer be paying the PMI.

Settling a divorce with less stress

A divorce is a very heartbreaking ordeal for the parties involved, and it is often further complicated by the troublesome decision of who gets the home. It's a good idea to order an appraisal from Jim Murray Appraisal Service so both parties are entirely aware of the true market value of their house, regardless of the circumstances.

The parties will have a clearer picture of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Fair and accurate estate liquidation

The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish 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 maximum degree of discretion.

Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the precise value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received a fair deal.

Jim Murray Appraisal Service can assist you in relocating to or from Broome County

We are aware of the stress involved with an employee relocation. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered during our thorough process.

Let Jim Murray Appraisal Service help you sell your home quickly at the right price

Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't contingent upon the value we come up with, but rather they are based on our efforts to finish the appraisal.

On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long houses are on the market. So, getting 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 too long, costing you time and money.