6 Reasons to choose an appraisal from Thomas W. Steinhart
Year after year, thousands of people in Indiana buy, sell or refinance their home. Many of these transactions include a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that might seem cheaper than an appraisal. Is getting a mortgage the only reason to acquire an appraisal? Are there more situations when the services of a certified, independent real estate professional could be beneficial? Of course there are.
Challenge your tax assessment in Hamilton County
If you reside in an area where the value of property has depreciated, 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.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that nearly all lenders ask home buyers to purchase when the amount being loaned to the buyer is more than 80% of the actual value of the property. Seeing that added payment is usually bundled into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Thomas W. Steinhart will produce a statement regarding the value of your home. The cost of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is a particularly daunting event for the parties involved, and it is often more complicated by the challenging decision of who maintains the property. 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, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
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 entails an appraisal to establish Fair Market Value for the real estate involved. We ensure the utmost degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these issues. A home or other property often makes up an uneven share of the total estate value, so knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Hamilton County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive features of their property, along with information about any current sales or listings in their neighborhood that they want considered during our intensive inspection.
Close on your home promptly — 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 selling price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value things like an extra bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a trusted 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 an unnecessarily long time, because we're experts in knowing how long homes are one the market.