Why you should get an appraisal

Thousands of people in Indiana buy, sell or refinance their home each year. A lot of these transactions consist of a simple line item for an appraisal. And while there are a multiplying number of automated home valuation methods that may appear to be less expensive than an appraisal, the majority of lenders still need a local expert because the stakes are very high. Is getting a mortgage the only reason you should get an appraisal? Are there more cases when the services of a certified, independent real estate professional could be helpful? Of course there are.

Let Thomas W. Steinhart help you lower your mortgage payment

Dispute your tax assessment in Hamilton County

If you reside in an area where property values have depreciated, it's possible you're paying too much in property taxes. An appraisal from Thomas W. Steinhart is your best evidence when building your case. We're qualified to assist you in appealing your tax assessment.

Removing 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 buyers to purchase this supplemental insurance policy. That policy is Private Mortgage Insurance, or PMI. Very often, this extra payment is folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI becomes unnecessary when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress requiring lenders to remove the PMI payments when the loan-to-value ratio conditions have been met.

Thomas W. Steinhart can give you a statement regarding the value of your home, and the expense of the home valuation can usually be offset in just a few months because you'll no longer be paying the PMI.

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Settle a divorce with less stress

A divorce is an especially horrible experience for the parties involved, and it is often more complicated by the troublesome decision of who gets the property. So both parties are entirely aware of the true market value of their home, it's a good idea to get an appraisal from Thomas W. Steinhart, regardless of the circumstances.

The parties will have a better 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.

Fair and accurate estate liquidation

The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the real estate involved. We guarantee the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).

Most Americans do not have dedicated estate planners or executors to take care of these matters, unlike wealthy individuals. And since a home or other property often makes up an unequal share of the total estate value, understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.

Move to or from Hamilton County for work

Employee relocation is a stressful event, and we understand. We take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage 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.

Close on your home quickly — at 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 can help you make a more informed decision regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend on our efforts to complete the appraisal report and and aren't related to the sales price.

On a daily basis, we determine the difference in value things like an additional 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 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 houses are one the market.

Let Thomas W. Steinhart assist you in selling your home quickly at the right price