Why you should get an appraisal
Thousands of people in Arizona buy, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. While there are a budding number of automated home valuation processes that may appear more prudent than an appraisal, practically all lenders still want a local expert because the stakes are so high. Is securing a mortgage the only reason to acquire an appraisal? Are there additional times when the services of a licensed, independent real estate professional might be helpful? You bet.
Appeal your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Property taxes are based upon a past assessment of your house, so if values have declined 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 can assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask homebuyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI becomes unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress 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, Powers Real Estate Services, LLC can produce a statement regarding the value of your home. The expense of the home valuation can generally be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the burdensome decision of who keeps the house, and it can be a very daunting ordeal for both parties. So both parties are completely aware of the true market value of their property, 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 a good idea of what price to set. And 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthier individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth 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
Employee relocation can be a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our intensive inspection, we recommend relocating employees to provide feedback on the positive features of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, 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.