Reasons to get an appraisal

To a lot of us, an appraisal just looks like another cost on the settlement sheet for a mortgage or refinance. While there are a developing number of automated home valuation methods that might seem more cost-effective than an appraisal, practically all lenders still call for a local expert because the stakes are so high. You might assume 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 beneficial.

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Dispute your tax assessment in Barren County

If you live in an area where property values have 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 disputing your tax assessment.

Remove PMI to lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask home buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. This is bad because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.

If you'd like to get rid of PMI, Graham Appraisal can produce a statement regarding the value of your home. The price you paid for the appraisal can usually be recovered in little time because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce is often complicated by the hard decision of who maintains the house, and it can be an especially horrible ordeal for both parties. Regardless of the circumstances, it's a good idea to get an appraisal from Graham Appraisal so both parties are fully aware of the true market value of their house.

The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.

Determine an accurate and fair valuation for estate liquidation

The death of 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 residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true value of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've received a fair deal.

Move to or from Barren County for work

We are aware of the stress involved with an employee relocation. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our detailed inspection, we recommend relocating employees to provide feedback on the positive attributes of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered.

Sell your home quickly — at an accurate price

Whether you decide 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 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 related to the sales price, but rather they are calculated on our efforts to finish the appraisal report.

On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to determine 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 homes are one the market.

Let Graham Appraisal assist you in selling your home quickly at the right price