Why you should hire an appraiser
Year after year, thousands of people in Arizona buy, sell or refinance their home. Many of these transactions involve a simple line item for an appraisal. While there are an increasing number of automated home valuation methods that might appear to be more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are very high. You might think that securing a mortgage is the only reason to get an appraisal, but there are more times when the services of a certified, independent real estate professional might be helpful.
Dispute your tax assessment in Maricopa County
It's quite possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are determined by a previous assessment of your home, so if values are less than what they used to be in your area, you can challenge your assessment and save money. An appraisal from Diamondback Appraisal & Consulting, Inc. is your best evidence when building your case. We're equipped to assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, many lenders ask home owners to take out this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. This added payment is often bundled into the monthly mortgage payment and is quickly forgotten. This is damaging because PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
Diamondback Appraisal & Consulting, Inc. can give you a statement regarding the value of your home, and the cost of the home valuation can often be regained in just a few months 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 challenging decision of who maintains the property, and it can be an especially horrible event for both parties. It's a good idea to order an appraisal from Diamondback Appraisal & Consulting, Inc. so both parties are completely aware of the true market value of their property, regardless of the situation.
If the parties want to sell the home, they'll have a better idea 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 a fair and accurate valuation for estate liquidation
Losing 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to take care of these matters, unlike wealthier individuals. And since a home or other property often makes up a disproportionate share of the total estate value, knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Maricopa County for work
Employee relocation is a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive characteristics of their property, as well as information regarding any new sales or listings in their area that they want considered during our detailed inspection.
Sell your home promptly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your asking 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 complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable 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, because we're experts in knowing how long houses stay on the market.