Let Northern Arizona Appraisal, Inc. attend to your appraisal needs
Thousands of people in Arizona buy, sell or refinance their home every month. Many of these transactions consist of a simple line item for an appraisal. Even though there are a growing number of automated home valuation methods that may appear more cost-effective than an appraisal, the majority of lenders still call in a local expert because the stakes are very high. Is securing a mortgage the only reason to get an appraisal? Are there additional cases when the services of a licensed, independent real estate professional could be helpful? Absolutely.
Challenge your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have depreciated. Property taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Northern Arizona Appraisal, Inc., we're capable of assisting you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the buyer is more than 80% of the actual value of the property. Very often, this added payment is lumped into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remainder 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 implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, Northern Arizona Appraisal, Inc. will provide you with a statement regarding the value of your home. The price you paid for the home valuation can usually be offset 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 often complicated by the challenging decision of who gets the property, and it can be a particularly traumatic occurrence for both parties. So both parties are entirely aware of the true market value of their property, it's a good idea to get an appraisal from Northern Arizona Appraisal, Inc., regardless of the situation.
If the parties wish to sell the home, they'll have a better idea 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.
Accurate and fair estate liquidation
The death of 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up a disproportionate share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Maricopa County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating 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 new sales or listings in their area that they want considered during our intensive inspection.
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 can 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 aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long houses are one the market.