Why you should order an appraisal from Northern Arizona Appraisal, Inc.
Thousands of people in Arizona buy, sell or refinance their home each year. A lot of these transactions consist of a simple line item for an appraisal. The majority of lenders still call for a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation processes that may appear more economical than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there other cases when the services of a certified, independent real estate professional could come in handy? You bet there are.
Challenge your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a past assessment of your house, so if prices are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Northern Arizona Appraisal, Inc. is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Removing PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, almost all lenders ask home buyers to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this additional payment is folded into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Northern Arizona Appraisal, Inc. can give you a statement regarding the value of your home, and the expense of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be a very traumatic experience for both parties, and it is often more complicated by the hard decision of who maintains the house. Regardless of the circumstances, it's a good idea to order an appraisal from Northern Arizona Appraisal, Inc. so both parties are completely aware of the true market value of their home.
The parties will have a good idea of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Maricopa County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information about any recent sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you choose to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to finish the appraisal report.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.