6 Reasons to order an appraisal from The August Group Inc.
Thousands of people in Missouri purchase, sell or refinance their home every year. Many of these transactions contain a simple line item for an appraisal. While there are a multiplying number of automated home valuation processes that might appear more economical than an appraisal, practically all lenders still call for a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there other instances when the services of a licensed, independent real estate professional might be helpful? Absolutely.
Challenge your tax assessment in Saint Louis County
It's likely you're paying too much in property taxes if you reside in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your house, so if values have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from The August Group Inc. is your best evidence when building your case. We're equipped to assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance plan that many lenders ask homebuyers to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. More often than not, this additional payment is lumped into the monthly mortgage payment and is soon forgotten. This is unfortunate because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to do away with the PMI payments when the loan-to-value ratio conditions have been met.
The August Group Inc. can produce a statement regarding the value of your home, and the price you paid for the home valuation can often be offset in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is an especially daunting event for the parties involved, and it is often further complicated by the hard decision of who gets the house. Regardless of the circumstances, it's a good idea to order an appraisal from The August Group Inc. so both parties are fully aware of the true market value of their property.
If the parties need to sell the home, they'll have a a good idea 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 assessment.
Accurate and fair estate liquidation
Losing a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these affairs. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Relocate to or from Saint Louis County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Sell your home promptly — for an accurate price
A professional appraisal can help you make a more informed decision regarding your asking price, whether you decide to sell your home on your own or with the help of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees rest on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long homesstay on the market. So, getting a professional appraisal is a reliable way to decide what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.