6 Reasons to choose an appraisal from Northern Arizona Appraisal, Inc.
To many, an appraisal is simply a line item on the settlement sheet for a home purchase or refinance. The majority of lenders still call for a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation processes that might seem cheaper than an appraisal. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are additional times when the services of a certified, independent real estate professional could be helpful.
Contest your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your real estate, so if values have gone down in your neighborhood, 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 equipped to assist you in challenging your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an extra insurance plan that nearly all lenders ask homebuyers to buy when the amount being loaned to the buyer is more than 80% of the actual value of the home. Since the extra payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - decreases 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) requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
Northern Arizona Appraisal, Inc. will give you a statement regarding the value of your home, and the expense of the appraisal can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is a very daunting event for the parties involved, and it is often further complicated by the burdensome decision of who gets the house. Regardless of the circumstances, it's a good idea to get an appraisal from Northern Arizona Appraisal, Inc. so both parties are completely aware of the true market value of their property.
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 assessment.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We guarantee 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 handle these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding 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.
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. We encourage relocating employees to provide input on the positive features of their property, along with information about any current sales or listings in their area that they want considered during our intensive inspection.
Sell your home quickly — at the right price
A professional appraisal can help you make a better educated decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking 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, because we're experts in knowing how long properties stay on the market.