What is a Home Appraisal, and Why Does it Matter? |

A home appraisal is an estimate of a home’s market value. It is often required by banks before they will issue a mortgage loan. The appraisal helps to ensure that the lender is not lending more money than the property is worth, and that the borrower is not taking on more debt than they can afford.

How Does a Home Appraisal Work?

A home appraisal typically involves a licensed appraiser visit the property, and assess its value based on recent sales of similar homes in the area. The appraiser will also take into account the condition of the property, any special features it may have, and other factors that could affect its value.

Who Pays for a Home Appraisal?

In most cases, the borrower will pay for the home appraisal. However, there are some situations where the lender may cover the cost.

Why Does a Home Appraisal Matter?

A home appraisal can matter a great deal when it comes to buying or refinancing a home. If the appraised value is less than the agreed upon purchase price, the buyer may have to come up with additional cash to close the deal. If the appraised value is less than the loan amount, the borrower may not be able to refinance their mortgage. In either case, it is important to be aware of a home’s appraised value before entering into any agreements.

How Long Does it Take to Get a Home Appraised?

It typically takes a few days to a week to get a home appraised. The appraiser will need to schedule a time to visit the property, and then may take a few days to complete the report.

How Much Does a Home Appraisal Cost?

Home appraisals can vary in cost, but typically range from $300 to $500. The exact cost will depend on the size and location of the property, as well as the appraiser’s fee.

$1,200,000

5 Bedrooms
6 Bathrooms
5,748 Sq Ft
8.870 Acres

1700 N Newton St. Jasper, Indiana

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Listing courtesy of Larry Carpenter III from Carpenter Realty LLC.

$429,000

4 Bedrooms
3 Bathrooms
2,208 Sq Ft
0.660 Acres

1450 Saint Charles Street Jasper, Indiana

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Listing courtesy of Stephanie Hasenour from RE/MAX Local.

$400,000

4 Bedrooms
2 Bathrooms
3,490 Sq Ft
0.353 Acres

307 Newton Street Jasper, Indiana

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Listing courtesy of Tama Stemle from RE/MAX Local.

$336,000

3 Bedrooms
2 Bathrooms
1,502 Sq Ft
0.344 Acres

900 Juniper Court Jasper, Indiana

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Listing courtesy of Dara O'Neil from F.C. TUCKER EMGE.

$331,000

3 Bedrooms
2 Bathrooms
1,500 Sq Ft
0.280 Acres

924 Juniper Court Jasper, Indiana

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Listing courtesy of Kara Hinshaw from Key Associates Signature Realty.

$320,000

3 Bedrooms
2 Bathrooms
3,471 Sq Ft
1.740 Acres

582 E 36th Street Jasper, Indiana

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Listing courtesy of Sandra Cave from RE/MAX Local.

$279,900

3 Bedrooms
5 Bathrooms
2,867 Sq Ft
0.800 Acres

4180 Timberpoint Court Jasper, Indiana

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Listing courtesy of Melody Faulk from RE/MAX Local.

$265,000

2 Bedrooms
2 Bathrooms
1,331 Sq Ft
0.148 Acres

813 Dorbett Street Jasper, Indiana

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Listing courtesy of Jake Mauntel from American Dream Mauntel Realty.

$249,500

3 Bedrooms
3 Bathrooms
2,202 Sq Ft
0.850 Acres

2413 Scenic Court Jasper, Indiana

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Listing courtesy of Stacey Thieman-Wright from THIEMAN REALTY.

$225,000

3 Bedrooms
4 Bathrooms
2,400 Sq Ft
0.315 Acres

2316 Sunset Drive Jasper, Indiana

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Listing courtesy of Keasha Fromme from Carpenter Realty LLC.

$219,000

2 Bedrooms
2 Bathrooms
1,266 Sq Ft

901-2 Reyling Drive Jasper, Indiana

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Listing courtesy of Kara Hinshaw from Key Associates Signature Realty.

$219,000

4 Bedrooms
2 Bathrooms
2,100 Sq Ft
0.110 Acres

214 W 9th Street Jasper, Indiana

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Listing courtesy of Ruger Kerstiens from F.C. TUCKER EMGE.

$194,000

4 Bedrooms
2 Bathrooms
2,280 Sq Ft
0.130 Acres

610 E Fourteenth Street Jasper, Indiana

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Listing courtesy of Ryan Craig from RE/MAX Local.

$192,500

3 Bedrooms
2 Bathrooms
1,616 Sq Ft
0.191 Acres

1414 Main Street Jasper, Indiana

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Listing courtesy of Kevin Bayer from RE/MAX Local.

$189,000

2 Bedrooms
1 Bathrooms
1,146 Sq Ft
1.130 Acres

6142 N Old Rd. 45 Jasper, Indiana

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Listing courtesy of Larry Carpenter III from Carpenter Realty LLC.

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