Reasons to hire an appraiser
Thousands of people in Arizona purchase, sell or refinance their home each month. Most of these transactions involve a simple line item for an appraisal. Practically all lenders still want a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may appear more cost-effective than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are other instances when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment in Maricopa County
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are determined by a past 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 equipped to assist you in appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask home owners to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. More often than not, this extra payment is bundled into the monthly mortgage payment and is quickly forgotten. PMI becomes unnecessary 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 implemented by the United States Congress requiring lenders to do away with 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. will provide you with a statement regarding the value of your home. The expense of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the strenuous decision of who keeps the property, and it can be a particularly daunting occurrence for both parties. Regardless of the situation, it's a good idea to order an appraisal from Northern Arizona Appraisal, Inc. so both parties are completely aware of the true market value of their property.
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
Losing 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike many wealthy individuals. And since a home or other property often makes up a disproportionate share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Maricopa County through an employee relocation program
We are aware of the headaches involved with an employee relocation. That being said, we take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive aspects of their property, as well as information about any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — for an accurate price
A professional appraisal will help you make a better educated decision when determining your asking price, whether you choose 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 aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Getting 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 homes are one the market.