Why you should get an appraisal
Year after year, thousands of people in Arizona buy, sell or refinance their home. Many of these transactions contain a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are incredibly high, even though there are a budding number of automated home valuation processes that might appear to be less expensive than an appraisal. Is obtaining a mortgage the only reason you should get an appraisal? Are there other times when the services of a licensed, independent real estate professional could come in handy? Of course there are.
Challenge your tax assessment in Pinal County
It's likely 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 house, 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. At Powers Real Estate Services, LLC, we're capable of assisting you in appealing your tax assessment.
Removing PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an added insurance policy that almost all lenders ask home owners to buy when the amount being loaned to the home buyer is more than 80% of the actual value of the property. This additional payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to dismiss the PMI payments 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 generally be recovered in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce can be an especially daunting experience for both parties, and it is often more complicated by the strenuous decision of who gets the house. So both parties are completely aware of the true market value of their home, it's a good idea to order an appraisal from Powers Real Estate Services, LLC, regardless of the circumstances.
If the parties wish 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 gotten a fair assessment.
Ascertain an accurate and fair valuation for estate liquidation
The death of 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Pinal County for work
We understand the headaches associated with an employee relocation. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home promptly — for an accurate price
A professional appraisal will help you make a more informed decision regarding your selling 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 price the house sells for, apart from real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We examine 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 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 homes are one the market.