Putnam Kruse Appraisal Group

Putnam Kruse appraises all types of single and multi-unit residential properties. This includes new construction, city, rural and Lake Property and two to four unit, multi-family properties. Some of our Residential Appraisal Services include appraisals for the following:

· Cost/benefit or investment analysis, for example, what will be the financial return on remodeling

An appraisal is a valuation tool most often used by mortgage lenders to verify a property's worth for prospective financing. The mortgage industry relies upon a qualified independent real estate appraiser to guide them in their financing decisions. But this is not the only reason to get an appraisal. Many homeowners, assessor offices, attorneys, buyers and sellers also utilize appraisals for a variety of needs explained below:

PMI Removal

Private Mortgage Insurance or PMI is the supplemental insurance that many lenders have to purchase when the amount being loaned is more than 80% of the value of the home (LTV or loan to value). This additional payment is often folded into the monthly mortgage payment and is quickly forgotten. After a rise in values and/or payment to principal goes below this 80% level, PMI is no longer required. United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to remove the PMI payments when the loan-to-value ratio conditions have been met. An appraisal is required to determine the property's value. The costs of this appraisal service is recovered in just a few months of not paying PMI.

Challenging tax assessments has become necessary in many areas and can be especially beneficial for lake property. Unfortunately, most people go into these challenges unarmed. They may pull some information from the Internet to support their claims, but without real basis.

One of our real estate appraisers can provide accurate answers to the question of value. While it may not be economical to commission a full appraisal to save a few dollars off your tax bill, often an appraiser can do a limited appraisal for much less, yet with the same conclusions and integrity. An appraisal from one of our qualified appraisers would be a step in the right direction in any dispute with your local tax assessor. M. Luanne Putnam is an Indiana State Certified Level I Assessor-Appraiser and Dennis K. Kruse, II is a former township assessor in DeKalb County.

In times of loss, it is often difficult to think of the various steps that must be taken to resolve any outstanding assets of the deceased. An appraisal is required to establish fair market values of any real estate properties in the estate for tax filings and any presentation to multiple heirs. The aid of an appraisal is a necessity to dispose of the estate properly. Putnam Kruse has experience in dealing with both large and small estates and estate attorneys in both pre-estate planning and estate settlement.

Divorce

In unfortunate circumstances, such as divorce, appraisals are required so that both parties involved receive a fair and impartial value so that they can concentrate on more important aspects of this difficult time. An appraisal by a qualified independent professional third party is often required by state law to settle the divorce and our firm has been able to provide this service to multiple parties.