Free Property Appraisal in Yuma
The cost of a home appraisal is often one of the biggest hurdles for potential buyers. A home appraisal typically costs between $650 – $750 in Arizona. Despite the high price tag, it is crucial to not skip the appraisal process. According to research, 1 in 10 mortgage denials are a result of issues revealed during the appraisal process.
Free Property Appraisal in Yuma, AZ is based on ad valorem taxation (property taxes are levied on the value of a property). The County Assessor’s Office strives to locate, identify and appraise all properties that are subject to ad valorem taxation at current market value or at the level established by law, classify all properties by Assessment category and process exemptions that are mandated by state law.
Free Home Valuation in Yuma, AZ – Find Out What Your Home Is Worth
To determine the actual fair market value of your property, an appraiser will review recent sales of comparable homes in your area, as well as your property’s size, condition, location and other factors. The property’s value is then compared to local and state-wide valuations, as well as the property tax rates in your area.
The City of Yuma requires that a real estate affidavit, also known as a Property Disclosure, be completed for every property sold or transferred within the City of Yuma limits. The affidavit contains information about the property that would not be available from public records, such as liens against the property and the name of the owner. The affidavit is a requirement for any transfer or sale of real property, except those exempt from the affidavit requirements under Arizona statute.