Why you should hire an appraiser
Thousands of people in Kentucky buy, sell or refinance their home each month. A lot of these transactions involve a simple line item for an appraisal. Practically all lenders still call in a local expert because the stakes are so high, even though there are a multiplying number of automated home valuation methods that might seem more practical than an appraisal. Is securing a mortgage the only reason to acquire an appraisal? Are there more instances when the services of a certified, independent real estate professional might be beneficial? You bet.
Appeal your tax assessment
If you reside in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Graham Appraisal is your best evidence when building your case. At Graham Appraisal, we're capable of assisting you in appealing your tax assessment.
PMI removal to lower your mortgage payment
When the amount being loaned to the buyeris more than 80% of the actual value of the real estate, many lenders ask home owners to purchase this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Very often, this additional payment is folded into the monthly mortgage payment and is soon forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfavorable. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Graham Appraisal can give you a statement regarding the value of your home. The cost of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a particularly traumatic experience for the parties involved, and it is often more complicated by the difficult decision of who gets the home. Regardless of the situation, it's a good idea to order an appraisal from Graham Appraisal so both parties are fully aware of the true market value of their home.
If the parties wish to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for estate liquidation
The loss 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 manage these issues, unlike wealthier individuals. And seeing that a home or other property often makes up an unequal share of the total estate value, knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Barren County for work
We know the headaches involved with an employee relocation. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive attributes of their property, as well as information regarding any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home quickly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision regarding your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted way to decide what improvements will add value and what an appropriate 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 stay on the market.