Reasons to order an appraisal from Phoenix Valuations, LLC
To a lot of people, an appraisal just looks like another cost in the long list of items for a home sale or refinance. While there are a developing number of automated home valuation methods that might appear more practical than an appraisal, nearly all lenders still call for a local expert because the stakes are very high. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are additional instances when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are determined by a previous assessment of your home, 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. We're qualified to assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that most lenders ask home owners to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the real estate. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Phoenix Valuations, LLC will produce a statement regarding the value of your home. The price you paid for the appraisal can usually be offset in little time because you'll no longer be paying the PMI.
Order an appraisal from Phoenix Valuations, LLCOrder today
Get a fair valuation on a home for divorce settlements
A divorce is often complicated by the difficult decision of who keeps the house, and it can be an especially traumatic experience for both parties. So both parties are entirely aware of the true market value of their house, it's a good idea to order an appraisal from Phoenix Valuations, LLC, regardless of the situation.
If the parties wish 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 received a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails 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 utmost degree of discretion.
Unlike wealthier individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up a disproportionate 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 can be a stressful event, and we understand. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal will help you make a more informed 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 depend on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, seeking 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.