Reasons to order an appraisal from Powers Real Estate Services, LLC
To a lot of people, an appraisal is simply a line item in the long list of items for a home sale or refinance. Most lenders still call in a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation systems that might seem more practical than an appraisal. You might think that securing a mortgage is the only reason you should get an appraisal, but there are other cases when the services of a certified, independent real estate professional might come in handy.
Appeal your tax assessment
If you live in an area where the value of property has depreciated, it's possible you're paying too much in property taxes. An appraisal from Powers Real Estate Services, LLC is your best evidence when building your case. At Powers Real Estate Services, LLC, we're equipped to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is an additional insurance plan that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the property. Oftentimes, this additional payment is bundled into the monthly mortgage payment and is promptly forgotten. This is unfortunate because PMI is unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Powers Real Estate Services, LLC will provide you with a statement regarding the value of your home. The expense of the appraisal can generally be offset in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home take make a divorce settlement less stressful
A divorce is an especially horrible ordeal for the parties involved, and it is often further complicated by the strenuous decision of who gets the property. Regardless of the situation, it's a good idea to order an appraisal from Powers Real Estate Services, LLC so both parties are fully aware of the true market value of their house.
The parties will have a good idea of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a difficult 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, ensuring the utmost degree of discretion.
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these affairs. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Pinal County for work
We understand 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 detailed inspection, we encourage relocating employees to provide input on the positive features of their property, along with information about any new sales or listings in their area that they want considered.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a better educated 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. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Obtaining a professional appraisal is a reliable way to decide 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.