Mortgage Loan Appraisal

Banks will order an appraisal for a mortgage to ensure the property’s value is high enough to meet the loan to value ratio necessary for the loan requested by the borrower. The bank is the client in this case and they order the appraisal. The bank or lender will typically not accept an appraisal unless the appraisal was ordered by them and/or the appraiser is on their approved appraiser list.

Estate / Date of Death Appraisal

Estate / Date of Death appraisals are performed in the event of a death of the family and there is real estate left behind that needs to be valued. In this case, the property would be valued as of the date of death, which is referred to as a retroactive appraisal.

We are on the Court Approved Appraiser List in New York.

Divorce Appraisal

When two parties are separating or divorcing and real estate is involved, an appraisal is almost always necessary to value the property. The property can be sold off or one party can buy the other party out of their interest

We are on the Court Approved Appraiser List in New York.

Property Tax Grievance Appraisal

Property taxes are very high in New York relative to the rest of the country. Homeowners are always trying to reduce their taxes with the local taxing authority. We provide the appraisal so homeowners can do this.

Hard Money Lender Appraisal

“Hard Money” are loans from companies and/or individuals that are not banks. They provide quick loans to people in need. Many times these are real estate investors or home flippers. It is usually a shorter term loan until the permanent financing from a bank has been secured.

Home Equity Line of Credit (HELOC)

Home Equity Lines of Credit or HELOCs are offered by banks or credit unions and usually secured by your primary residence. If there is excess equity above their mortgage in a primary residence, a homeowner can take advantage by getting a HELOC. They will only pay interest when the money is used.

Expert Witness / Litigation

Many times a court will need an appraiser as an expert witness to testify in court regarding an appraisal or a piece of real estate.

Private Mortgage Insurance (PMI)

PMI is the insurance a homeowner pays when their loan to value ratio is above 80%. Appraisals are ordered to check the value in order to remove the PMI and save the homeowner money.

Capital Gains

A home appraisal can be performed to analyze what the capital gains would be on a property. This will give the investor a good idea of what the tax consequences would be if they were to sell.

REO / Foreclosures

When a property is foreclosed upon, the bank takes over the property. They want to order an appraisal to determine what the property is worth. They can then decide what the best route is – sell, rent, or fix up and sell.

Portfolio Valuation

In order to get an idea of net worth or a portfolio value of real estate, a home appraisal or several home appraisals may be ordered to establish value. This allows a financial manager / planner to have all the values of all the assets of a client.