Reasons you should order an appraisal from Graham Appraisal
Thousands of people in Kentucky purchase, sell or refinance their home every month. Many of these transactions include a simple line item for an appraisal. Almost all lenders still need a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that may seem more practical than an appraisal. You might believe that getting a mortgage is the only reason to get an appraisal, but there are more times when the services of a licensed, independent real estate professional might come in handy.
Challenge your tax assessment
If you are in an area where the property value has depreciated, 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 equipped to assist you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the homebuyeris more than 80% of the actual value of the home, most lenders ask home buyers to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
Graham Appraisal can produce a statement regarding the value of your home, and the cost of the home valuation can usually be offset in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a very traumatic event for the parties involved, and it is often more complicated by the troublesome decision of who keeps the home. Regardless of the circumstances, it's a good idea to get an appraisal from Graham Appraisal so both parties are entirely 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 received a fair evaluation.
Accurate and fair estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. And seeing that 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.
Relocate to or from Barren County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — at the right price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal will help you make a better educated decision when determining your selling 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 finish the appraisal report and and aren't related to the sales price.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a reliable way to determine 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 are one the market.