6 Reasons to choose an appraisal from Northern Arizona Appraisal, Inc.
Thousands of people in Arizona buy, sell or refinance their home each year. Many of these transactions include a simple line item for an appraisal. Even though there are a multiplying number of automated home valuation systems that might appear to be less expensive than an appraisal, the majority of lenders still call for a local expert because the stakes are so high. Is obtaining a mortgage the only basis for getting an appraisal? Are there other situations when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Dispute your tax assessment
It's probable you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your house, so if values have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Northern Arizona Appraisal, Inc. is your best evidence when building your case. We can assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, nearly all lenders ask home owners to take out this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments 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 cost of the appraisal can often be recovered in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly daunting ordeal for the parties involved, and it is often further complicated by the troublesome decision of who keeps the house. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Northern Arizona Appraisal, Inc., regardless of the situation.
The parties will have a a good idea of what price to set, if they need to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair estate liquidation
Losing a loved one is a difficult time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the fullest degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these matters. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Maricopa County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide feedback on the positive aspects of their property, as well as information about any new sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right 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 more informed decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted 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 an unnecessarily long time, because we're experts in knowing how long properties stay on the market.