Reasons to order an appraisal from Phoenix Valuations, LLC
Every year, thousands of people in Arizona purchase, sell or refinance their home. A lot of these transactions have a simple line item for an appraisal. And while there are a budding number of automated home valuation methods that might seem more cost-effective than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. You might think that obtaining a mortgage is the only reason to acquire an appraisal, but there are other situations when the services of a licensed, independent real estate professional could be beneficial.
Challenge your tax assessment
It's probable 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 home, so if values have declined in your area, you can appeal your assessment and save money. An appraisal from Phoenix Valuations, LLC is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that nearly all lenders ask homeowners to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the home. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is unfavorable because PMI isn't required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Phoenix Valuations, LLC will give you a statement regarding the value of your home, and the price you paid for the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very horrible event for both parties, and it is often even more complicated by the difficult decision of who gets the home. So both parties are completely aware of the true market value of their home, it's a good idea to get an appraisal from Phoenix Valuations, LLC, regardless of the circumstances.
If the parties want to sell the home, they'll have a a good 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.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails 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.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike many wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away 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 being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision regarding 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 price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are calculated on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. 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.