Reasons to hire an appraiser
To a lot of people, an appraisal is simply a line item on the break-sheet for a mortgage or refinance. The majority of lenders still call for a local expert because the stakes are so high, even though there are a developing number of automated home valuation systems that might seem cheaper than an appraisal. Is securing a mortgage the only reason you should get an appraisal? Are there additional instances when the services of a licensed, independent real estate professional could be beneficial? Of course.
Dispute your tax assessment in Maricopa County
It's probable you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a previous assessment of your home, so if values have gone down 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 capable of assisting you in disputing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask buyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the property. Since the added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is bad because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Northern Arizona Appraisal, Inc. can provide you with a statement regarding the value of your home. The price you paid for the home valuation can often be recovered in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the troublesome decision of who maintains the home, and it can be an especially daunting occurrence for both parties. It's a good idea to order an appraisal from Northern Arizona Appraisal, Inc. so both parties are fully aware of the true market value of their house, regardless of the circumstances.
The parties will have a good idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Accurate and fair estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these issues. 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 vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Maricopa County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That's why we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any recent sales or listings in their area that they want considered during our detailed inspection.
Close on your home quickly — at an accurate price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesstay on the market. So, obtaining a professional appraisal is a trusted way to decide 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.