Reasons to consider 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 have a simple line item for an appraisal. Most lenders still call in a local expert because the stakes are so high, even though there are an increasing number of automated home valuation methods that might appear more economical than an appraisal. You might think that securing a mortgage is the only reason to acquire an appraisal, but there are more instances when the services of a certified, independent real estate professional might come in handy.
Appeal your tax assessment in Maricopa County
It's quite possible you're paying too much in property taxes if you live in an area where property values have depreciated. Ad Valorem taxes are determined by a previous assessment of your home, so if values 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. At Northern Arizona Appraisal, Inc., we're equipped to assist you in challenging your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that most lenders ask buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is soon forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Northern Arizona Appraisal, Inc. will produce a statement regarding the value of your home. The cost of the home valuation can generally be recovered in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is a particularly daunting experience for the parties involved, and it is often even more complicated by the burdensome decision of who gets the property. It's a good idea to order an appraisal from Northern Arizona Appraisal, Inc. so both parties are entirely aware of the true market value of their house, regardless of the situation.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The death of a loved one is a hard time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to take care of these matters. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Maricopa County for work
We are familiar with the stress associated with an employee relocation. We take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive features of their property, as well as information regarding any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home promptly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a more informed decision regarding your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they rest on our efforts to finish the appraisal report.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long properties are one the market.