Reasons to order an appraisal from The August Group Inc.
To many, an appraisal just looks like another fee on the break-sheet for a home sale or refinance. And even though there are a budding number of automated home valuation processes that may seem cheaper than an appraisal, nearly all lenders still call in a local expert because the stakes are so high. You might believe that getting a mortgage is the only reason to get an appraisal, but there are additional cases when the services of a certified, independent real estate professional might come in handy.
Contest your tax assessment
If you reside in an area where the value of property has declined, it's possible you're paying too much in property taxes. When building your case, an appraisal from us is your best evidence. At The August Group Inc., we're capable of assisting you in disputing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the home, many lenders ask home buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often lumped into the monthly mortgage payment and is soon forgotten. This is bad because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
The August Group Inc. will produce a statement regarding the value of your home, and the cost of the appraisal can generally be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who gets the property, and it can be a very traumatic occurrence for both parties. It's a good idea to get an appraisal from The August Group Inc. so both parties are fully aware of the true market value of their property, regardless of the situation.
If the parties wish to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Fair and accurate estate liquidation
The death of a loved one is a difficult time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to manage these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten a fair deal.
Relocate to or from Saint Louis County through an employee relocation program
Employee relocation is a stressful event, and we understand. We take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive attributes of their property, as well as information about any new sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — at the right price
A professional appraisal will help you make a more informed decision regarding your selling price, whether you decide to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and and aren't related to the sales price.
On a daily basis, we examine the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long propertiesare on the market. So, getting 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.