Reasons to get 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 mortgage or refinance. And while there are a multiplying number of automated home valuation systems that may appear to be more cost-effective than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. Is securing a mortgage the only reason to get an appraisal? Are there also times when the services of a certified, independent real estate professional might be beneficial? Absolutely.
Appeal your tax assessment in Maricopa County
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are determined by a previous assessment of your home, so if prices have gone down in your area, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the home, many lenders ask home owners to buy this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this added payment is folded into the monthly mortgage payment and is promptly forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfavorable. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Phoenix Valuations, LLC can give you a statement regarding the value of your home. The cost of the appraisal can generally be recovered in just a few months because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the troublesome decision of who keeps the home, and it can be a particularly traumatic ordeal for both parties. So both parties are completely 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 circumstances.
If the parties wish to sell the home, they'll have a better 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 assessment.
Determine an accurate and fair valuation for estate liquidation
Losing a loved one is a difficult 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. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to manage these matters, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Maricopa County for work
We are familiar with the stress associated with an employee relocation. That being said, we take great care in setting up an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide input on the positive features of their property, along with 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 selling price, whether you decide to sell your home on your own or with the help of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees rest on our efforts to complete the appraisal report and and aren't related to 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 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.