Reasons to get an appraisal
To a lot of people, an appraisal just looks like one more thing in the long list of items for a home sale or refinance. Most lenders still call for a local expert because the stakes are very high, even though there are a multiplying number of automated home valuation processes that may appear more cost-effective than an appraisal. You might assume that getting a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a licensed, independent real estate professional might be helpful.
Challenge your tax assessment
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the buyeris more than 80% of the actual value of the property, nearly all lenders ask home owners to take out this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. This extra payment is often lumped into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Graham Appraisal can produce a statement regarding the value of your home. The cost of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Get a fair valuation on a home for divorce settlements
A divorce is an especially traumatic ordeal for the parties involved, and it is often even more complicated by the challenging decision of who gets the house. Regardless of the situation, it's a good idea to get an appraisal from Graham Appraisal so both parties are completely aware of the true market value of their home.
The parties will have a a good idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine a fair and accurate valuation for estate liquidation
The loss of 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 residential property involved. We guarantee the maximum 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 matters. And since 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 vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Barren County for work
We are aware of the headaches associated with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our intensive inspection, we suggest relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.
Sell your home quickly — for the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting 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.