Reasons to order an appraisal
To a lot of us, an appraisal is simply a line item on the break-sheet for a mortgage or refinance. And while there are a budding number of automated home valuation methods that may appear less expensive than an appraisal, almost all lenders still call in a local expert because the stakes are so high. You might believe that securing a mortgage is the only reason to get an appraisal, but there are more instances when the services of a licensed, independent real estate professional might be helpful.
Contest your tax assessment in Maricopa County
If you live in an area where the property value has depreciated, it's possible you're paying too much in property taxes. An appraisal from Phoenix Valuations, LLC is your best evidence when building your case. At Phoenix Valuations, LLC, we're equipped to assist you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home owneris more than 80% of the actual value of the property, most lenders ask homebuyers to buy this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This added payment is often folded into the monthly mortgage payment and is promptly forgotten. This is unfavorable because PMI isn't necessary 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 implemented by the United States Congress that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Phoenix Valuations, LLC can give you a statement regarding the value of your home. The expense of the appraisal can often be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is often complicated by the difficult decision of who maintains the property, and it can be an especially traumatic ordeal for both parties. Regardless of the situation, it's a good idea to get an appraisal from Phoenix Valuations, LLC so both parties are completely aware of the true market value of their house.
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 received 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 calls for 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, ensuring the highest degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. And seeing that a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Maricopa County through an employee relocation program
We are familiar with the headaches associated with an employee relocation. We take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Sell your home promptly — at the right price
Whether you choose to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted way to determine 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.