Why you should order an appraisal from Powers Real Estate Services, LLC
Every year, thousands of people in Arizona purchase, sell or refinance their home. Most of these transactions have a simple line item for an appraisal. And even though there are an increasing number of automated home valuation processes that might appear less expensive than an appraisal, most lenders still call in a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only reason you should get an appraisal, but there are more times when the services of a certified, independent real estate professional might be helpful.
Contest your tax assessment
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a past 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. An appraisal from Powers Real Estate Services, LLC is your best evidence when building your case. We're qualified to 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 homebuyers to take out this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often lumped into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. 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.
Powers Real Estate Services, LLC can give you a statement regarding the value of your home, and the cost of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a very horrible event for the parties involved, and it is often more complicated by the troublesome decision of who maintains the house. It's a good idea to order an appraisal from Powers Real Estate Services, LLC so both parties are entirely aware of the true market value of their house, regardless of the circumstances.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Ascertain 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 calls for an appraisal to establish Fair Market Value for the real estate involved. We guarantee the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans do not have dedicated estate planners or executors to manage these issues, unlike many wealthy individuals. 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 significant importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Pinal County through an employee relocation program
We are familiar with the stress associated with an employee relocation. We take great care in organizing a convenient appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide remarks on the positive features of their property, as well as information about any current sales or listings in their neighborhood that they want considered.
Close on your home promptly — at the right price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you want to sell your home on your own or use the assistance of a real estate agent. Apart from a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees are based on our efforts to finish 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. Obtaining a professional appraisal is a reliable 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 properties stay on the market.