What Kearns & Associates Appraisal Co Does and When You Need Them

Kearns & Associates Appraisal Co provides property valuations for real estate transactions, refinancing, and estate settlements across South Carolina

Kearns & Associates Appraisal Co is a South Carolina-based appraisal firm that determines the market value of residential and commercial properties. Their appraisers conduct on-site inspections, analyze comparable sales, and produce written appraisal reports that lenders, buyers, and property owners rely on to make financial decisions. The firm operates throughout South Carolina and serves clients in mortgage lending, refinancing, divorce settlements, estate valuations, and property tax disputes.

An appraisal is not the same as a property tax assessment or a real estate agent's comparative market analysis. An appraisal is an independent, professional opinion of what a property is worth on the open market, based on standardized methods and current market data. Lenders require appraisals before they will fund a mortgage or refinance loan because the appraisal protects them from lending more than the property is actually worth.

Key Takeaways

• Kearns & Associates produces appraisals for mortgage purchases, refinancing, estate settlements, and property disputes throughout South Carolina.
• An appraisal is a professional market valuation, not a tax assessment or real estate listing price, and is required by most lenders before closing.
• The appraisal process includes an on-site inspection, comparable sales analysis, and a written report that typically takes one to two weeks to complete.
• Appraisal costs vary based on property type and complexity, and the borrower usually pays the fee, though some lenders roll it into closing costs.

When You Need an Appraisal from Kearns & Associates

You need an appraisal when you are buying a home with a mortgage, refinancing an existing loan, or settling an estate. Lenders require an appraisal to confirm that the property value supports the loan amount. If you are paying cash, an appraisal is optional but often useful for your own records or for insurance purposes.

Property owners also order appraisals when they are disputing a property tax assessment, dividing assets in a divorce, or determining the value of a property for insurance coverage. In South Carolina, a professional appraisal carries more weight than a homeowner's estimate when dealing with tax assessors or courts.

How the Appraisal Process Works

The appraisal process begins when you or your lender orders the appraisal. Kearns & Associates will schedule an on-site inspection at a time that works for you. The appraiser will walk through the property, measure rooms, note the condition of the roof, foundation, mechanical systems, and finishes, and photograph the exterior and key interior spaces.

After the inspection, the appraiser researches recent sales of comparable properties in the same neighborhood or area. They adjust for differences in size, age, condition, and amenities to arrive at a market value estimate. The appraiser then prepares a written report that includes the property description, inspection photos, comparable sales data, and the final valuation. This report is sent to the lender or to whoever ordered the appraisal.

The entire process typically takes one to two weeks from the time the appraisal is ordered to the time the report is delivered. If the appraisal comes in lower than the purchase price or loan amount, the lender may require a renegotiation, additional down payment, or may decline to fund the loan.

What Affects Your Appraisal Value

The appraiser considers the property's location, size, age, condition, and recent upgrades. A home in a desirable neighborhood with good schools and low crime will appraise higher than an identical home in a less desirable area. Recent renovations to kitchens, bathrooms, roofing, or HVAC systems can increase value, while deferred maintenance or structural issues will lower it.

Market conditions also matter. In a strong seller's market, comparable sales prices are higher, which can push your appraisal up. In a slower market, appraisals tend to be lower. The appraiser uses sales from the past three to six months to reflect current conditions, so timing can affect the outcome.

South Carolina-specific factors include flood risk and proximity to water. Properties in flood zones or with a history of flooding may appraise lower, even if they have flood insurance. Conversely, waterfront or water-view properties often command a premium.

Appraisal Costs and Who Pays

Appraisal fees vary depending on the property type and complexity. A straightforward single-family home appraisal typically costs less than a commercial property or a complex estate with multiple buildings. Rural properties or those requiring specialized knowledge may also cost more.

In a mortgage transaction, the borrower usually pays the appraisal fee, though some lenders include it in the closing costs. If you are ordering an appraisal for a tax dispute or estate settlement, you pay the fee directly. Ask Kearns & Associates for a fee estimate before you schedule the appraisal so there are no surprises.

Disputing an Appraisal You Disagree With

If you believe the appraisal is too low, you have options. You can request a reconsideration of value from the appraiser, providing documentation of recent upgrades, comparable sales the appraiser may have missed, or errors in the property description. Some appraisers will review their work and issue a revised report if they made a factual mistake.

You can also order a second appraisal from another firm. If the second appraisal is significantly higher, you can present both to your lender and ask them to reconsider the loan. Keep in mind that lenders are not required to accept a higher appraisal, and ordering a second appraisal costs additional money.

In South Carolina, if you are disputing a property tax assessment based on an appraisal, you can appeal to your county assessor or the South Carolina Department of Revenue. An independent appraisal from a licensed firm like Kearns & Associates carries weight in these disputes.

Frequently Asked Questions

How long does an appraisal take?

The on-site inspection usually takes 30 minutes to an hour, depending on the property size and condition. The full appraisal report, from order to delivery, typically takes one to two weeks. Rush appraisals may be available for an additional fee.

Can I be present during the appraisal?

Yes. Many homeowners are present during the inspection to answer questions about recent upgrades or repairs. Being there allows you to point out improvements the appraiser might otherwise miss, which can support a higher valuation.

What if the appraisal comes in lower than the purchase price?

If you are buying with a mortgage, the lender will not fund more than the appraised value. You can renegotiate the purchase price with the seller, increase your down payment, or walk away from the deal. In a refinance, a low appraisal may mean you cannot borrow as much as you hoped.

Do I need an appraisal if I am paying cash?

No, an appraisal is not required for a cash purchase. However, many cash buyers order one anyway to confirm they are paying a fair price and to have documentation for insurance or future reference.

Is a real estate agent's estimate the same as an appraisal?

No. A real estate agent's comparative market analysis is an opinion based on recent sales and is not binding. An appraisal is a professional valuation conducted by a licensed appraiser using standardized methods and is used by lenders to make lending decisions.