Statewide Appraisal Services in Harrodsburg do appraisals for diverse clients

Year after year, thousands of people in Kentucky buy, sell or refinance their home. Many of these transactions have a simple line item for an appraisal. While there are a multiplying number of automated home valuation systems that may seem more prudent than an appraisal, most lenders still call in a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are other times when the services of a licensed, independent real estate professional might come in handy.

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Challenge your tax assessment in Fayette County

If you live in an area where property values have declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from Statewide Appraisal Services is your best evidence. We're qualified to assist you in disputing your tax assessment.

Getting rid of your PMI will lower your mortgage payment

Private Mortgage Insurance, or PMI, is a supplemental insurance policy that many lenders ask home buyers to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Oftentimes, this additional payment is folded into the monthly mortgage payment and is promptly forgotten. PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfavorable. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to do away with the PMI installments when the balance is paid down to 78% of the original value.

If you'd like to do away with PMI, Statewide Appraisal Services can give you a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in a short amount of time because you'll no longer be paying the PMI.

Divorce settlement with less stress

A divorce is a very daunting experience for the parties involved, and it is often further complicated by the challenging decision of who maintains the property. It's a good idea to order an appraisal from Statewide Appraisal Services so both parties are entirely aware of the true market value of their property, regardless of the situation.

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

Fair and accurate estate liquidation with Statewide Appraisal ServicesSettling an estate

The death of a loved one is a difficult 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.

Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to manage these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.

Relocating to or from Fayette County?

We are aware of the headaches associated with an employee relocation. That being said, we take great care in organizing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information about any current sales or listings in their area that they want considered during our intensive process.

Sell your home quickly at the right price

A professional appraisal will help you make a more informed decision when determining your selling price, whether you want to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are derived from our efforts to complete the appraisal report and and aren't related to the sales price.

On a daily basis, we analyze the difference in value items like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long houses stay on the market. So, seeking 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 for an extended amount of time.