Reasons to get an appraisal from Powers Real Estate Services, LLC
Thousands of people in Arizona buy, sell or refinance their home each month. A lot of these transactions include a simple line item for an appraisal. The majority of lenders still call in a local expert because the stakes are incredibly high, even though there are a developing number of automated home valuation processes that may seem more cost-effective than an appraisal. Is securing a mortgage the only reason to get an appraisal? Are there other instances when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have depreciated. Ad Valorem taxes are based upon a previous assessment of your real estate, so if prices are less than what they used to be in your neighborhood, you can appeal your assessment and save money. When building your case, an appraisal from us is your best evidence. At Powers Real Estate Services, LLC, we're equipped to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask home buyers to purchase when the amount being loaned to the homeowner is more than 80% of the actual value of the property. This added payment is often lumped into the monthly mortgage payment and is soon forgotten. PMI is 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 Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Powers Real Estate Services, LLC will provide you with a statement regarding the value of your home, and the expense of the appraisal can usually be regained 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 is an especially daunting event for the parties involved, and it is often even more complicated by the difficult decision of who gets the house. It's a good idea to get an appraisal from Powers Real Estate Services, LLC so both parties are fully aware of the true market value of their home, regardless of the circumstances.
If the parties need to sell the home, they'll have a clearer picture 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.
Fair and accurate estate liquidation
The death of 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. We ensure 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 affairs, unlike many wealthy individuals. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received a fair deal.
Relocate to or from Pinal County for work
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive characteristics of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision regarding your selling price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are calculated on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted way to decide what improvements will add value and what an applicable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.