6 Reasons to order an appraisal from Northern Arizona Appraisal, Inc.
Every year, thousands of people in Arizona buy, sell or refinance their home. Most of these transactions consist of a simple line item for an appraisal. And while there are a multiplying number of automated home valuation processes that may seem more economical than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there also cases when the services of a licensed, independent real estate professional could come in handy? You bet.
Challenge your tax assessment in Maricopa County
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Northern Arizona Appraisal, Inc. is your best evidence when building your case. At Northern Arizona Appraisal, Inc., we're capable of assisting you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the home, almost all lenders ask homeowners to take out this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often folded into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires 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. can give you a statement regarding the value of your home. The expense of the appraisal can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce can be a particularly daunting ordeal for both parties, and it is often further complicated by the troublesome decision of who keeps the home. So both parties are entirely 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 circumstances.
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 gotten a fair evaluation.
Fair and accurate 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 real estate 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).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Move to or from Maricopa County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. We take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Close on your home promptly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to determine 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 homes are one the market.