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.

$785,000

410 Riverside Drive Jasper, Indiana

7 Beds 6 Baths 5,132 SqFt 1.13 Acres

Listing courtesy of Brenda Welsh from SELL4FREE-WELSH REALTY CORPORATION.

$630,000

39 Hannah Lane Jasper, Indiana

4 Beds 4 Baths 4,834 SqFt 1.65 Acres

Listing courtesy of Nathan Hanselman from SELL4FREE-WELSH REALTY CORPORATION.

$509,700

3289 St. Charles Street Jasper, Indiana

4 Beds 4 Baths 3,906 SqFt 0.595 Acres

Listing courtesy of Brenda Welsh from SELL4FREE-WELSH REALTY CORPORATION.

$425,000

1376 N Hayland Drive Jasper, Indiana

3 Beds 3 Baths 2,500 SqFt 0.85 Acres

Listing courtesy of LarryCarpenter III from Carpenter Realty LLC.

$420,000

4298 W Beringer Drive Jasper, Indiana

4 Beds 3 Baths 1,636 SqFt 0.48 Acres

Listing courtesy of Opal Sermersheim from SELL4FREE-WELSH REALTY CORPORATION.

$349,900

1749 W 1st Street Jasper, Indiana

4 Beds 3 Baths 2,011 SqFt 0.35 Acres

Listing courtesy of Gary Schnell from SELL4FREE-WELSH REALTY CORPORATION.

$349,700

375 Daisy Lane Jasper, Indiana

4 Beds 4 Baths 3,274 SqFt 0.31 Acres

Listing courtesy of Brenda Welsh from SELL4FREE-WELSH REALTY CORPORATION.

$349,700

464 Kluemper Road Jasper, Indiana

3 Beds 2 Baths 1,851 SqFt

Listing courtesy of Brenda Welsh from SELL4FREE-WELSH REALTY CORPORATION.

$339,900

394 Saint Charles Street Jasper, Indiana

3 Beds 4 Baths 2,806 SqFt 0.3 Acres

Listing courtesy of Gary Schnell from SELL4FREE-WELSH REALTY CORPORATION.

$294,900

4114 Lee Drive Jasper, Indiana

4 Beds 3 Baths 2,588 SqFt 0.26 Acres

Listing courtesy of SteveLukemeyer from F.C. TUCKER EMGE.

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Newest Homes for Sale in Dubois County

View the newest homes listed in Dubois County in the last 10 days:

$110,000 Pending

1236 W Todd Lane Jasper, Indiana

3 Beds 2 Baths 1,000 SqFt 0.31 Acres

Listing courtesy of Gary Schnell from SELL4FREE-WELSH REALTY CORPORATION.

$630,000 Active

39 Hannah Lane Jasper, Indiana

4 Beds 4 Baths 4,834 SqFt 1.65 Acres

Listing courtesy of Nathan Hanselman from SELL4FREE-WELSH REALTY CORPORATION.

$195,000 Active

479 S Carroll Drive Jasper, Indiana

3 Beds 2 Baths 1,296 SqFt 0.21 Acres

Listing courtesy of Nathan Hanselman from SELL4FREE-WELSH REALTY CORPORATION.