Reasons you should order an appraisal from Northern Arizona Appraisal, Inc.
To many, an appraisal is simply another cost in the long list of items for a home purchase or refinance. While there are an increasing number of automated home valuation processes that might appear cheaper than an appraisal, practically all lenders still call for a local expert because the stakes are so high. You might think that securing a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a certified, independent real estate professional could come in handy.
Appeal your tax assessment
If you are in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We're capable of assisting you in challenging your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask home buyers to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the home. Since the extra payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI installments 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 expense of the appraisal can usually be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially traumatic ordeal for both parties, and it is often more complicated by the burdensome decision of who keeps the home. Regardless of the situation, it's a good idea to get an appraisal from Northern Arizona Appraisal, Inc. so both parties are fully aware of the true market value of their home.
If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a painful 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 utmost degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these matters. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Maricopa County for work
We are aware of the stress involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive attributes of their property, along with information about any recent sales or listings in their neighborhood that they want considered.
Sell your home quickly — at the right price
A professional appraisal can help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a reliable way to decide 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 homes stay on the market.