Reasons to order an appraisal from Thomas W. Steinhart
Thousands of people in Indiana buy, sell or refinance their home every year. A lot of these transactions contain a simple line item for an appraisal. And while there are a developing number of automated home valuation methods that might seem more economical than an appraisal, nearly all lenders still call for a local expert because the stakes are incredibly high. Is securing a mortgage the only reason you should get an appraisal? Are there more cases when the services of a certified, independent real estate professional might be beneficial? Of course.
Appeal your tax assessment
If you reside in an area where the property value has 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. At Thomas W. Steinhart, we're capable of assisting you in appealing your tax assessment.
Getting rid of your PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the home, nearly all lenders ask homebuyers to buy this extra insurance plan. That policy is Private Mortgage Insurance, or PMI. Seeing that added payment is usually folded into the monthly mortgage payment, it is often forgotten. PMI isn't required when the remaining balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark, making this very unfortunate. In fact, the United States Congress passed 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.
Thomas W. Steinhart will produce a statement regarding the value of your home, and the cost of the appraisal can often be recovered in just a few months 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 can be a particularly daunting ordeal for both parties, and it is often more complicated by the troublesome decision of who gets the house. Regardless of the situation, it's a good idea to order an appraisal from Thomas W. Steinhart so both parties are entirely aware of the true market value of their property.
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.
Accurate and fair estate liquidation
The loss of a loved one is a hard 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. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these affairs, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Hamilton County through an employee relocation program
We are familiar with the headaches involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information regarding any recent sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for an accurate price
A professional appraisal can help you make a better educated decision when determining your selling price, whether you decide 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 price the house sells for. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value things like an additional bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesstay on the market. So, obtaining a professional appraisal is a reliable way to decide what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.