The beginning of the year is an excellent time to ensure that all of your most important information is up-to-date and accurate, including the property value of your home or business. Rynne, Murphy & Associates, one of the largest real estate appraisal and consulting firms in Rochester, New York, is here to explain why it's important to make sure you always know exactly what your property is worth.
Your homeowner's insurance policy, for example, offers coverage based on a property value estimate that may be extremely outdated, leaving you vulnerable if something were to damage or destroy your home. If, for example, a fire destroyed your home or commercial building and the settlement paid what it would have cost to replace the building 10 years ago, you may find yourself facing a significant financial loss if real estate values have risen in the meantime.
Property taxes are also derived from real estate appraisals that may no longer be accurate. Governments only update their records every few years, which means you could be overpaying on taxes if values in your area have fallen since the last appraisal was performed. With expert assistance from Rynne, Murphy & Associates, you can be certain your insurance policy has all the coverage you need and your annual tax bill is accurate.
Lenders, attorneys, and homeowners throughout the state have come to rely on Rynne, Murphy & Associates for high-quality appraisals on almost any kind of real estate. Whether you're a buyer, seller, or investor, you can depend on their team to provide the information you need. Visit their website to learn more, or call (585) 262-3277 to request a quote today.