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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 •

Call today if you're planning on any transaction where knowing the value of your real estate is a factor. Click here or call 516.443.3535 or 718.279.8618 to request a residential appraisal report

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.

If the parties wish to sell the home, they will have a better idea of what listing price to set. And if a "buyout" is the chosen option, both parties will need to be confident that they've received a fair evaluation.  The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us to impartiality, and we take these ethical responsibilities very serious.

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.

Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensure that all involved parties are confident that they've received a fair and accurate evaluation. 

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.

We determine the difference in value items like an extra bathroom or a kitchen remodel which can have a significant impact on both value and marketing time in most market areas. And we're experts in knowing how long properties are on the market. So, seeking a professional appraisal is a reliable 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.

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.

Priority service for bail and immigration bonds can be offered as an immediate emergency service (often the same day) for bail bonds. Order the appraisal before 9:00 am and receive the report as email (pdf) by 9:00 am the next day, or in some cases 5:00 pm the same day. Please understand this is a process that typically takes a minimum of three to five business days in most market areas. The appraiser, at Tri Borough Appraisals, will be committed to accommodating your request for emergency service. Please expect a significant increase in the fee for this extraordinary service. There are some circumstances, beyond our control, that this type of service may not always be possible. Should that occur the assignment inspection would need to be rescheduled. 

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.

If you'd like to get rid of PMI, Tri Borough Appraisals can provide you with a well supported appraisal regarding the value of your home. The price you paid for the appraisal is usually offset in a short amount of time because you'll no longer be paying the PMI.