Reasons to choose an appraisal from The August Group Inc.
To many, an appraisal is simply another fee in the long list of items for a home sale or refinance. While there are a budding number of automated home valuation processes that may appear cheaper than an appraisal, almost all lenders still call in a local expert because the stakes are so high. Is securing a mortgage the only basis for getting an appraisal? Are there also instances when the services of a certified, independent real estate professional could come in handy? Of course there are.
Dispute your tax assessment in Saint Louis County
It's possible you're paying too much in property taxes if you reside in an area where property values have depreciated. Property taxes are based upon a previous assessment of your real estate, so if values have declined in your neighborhood, you can challenge your assessment and save money. An appraisal from The August Group Inc. is your best evidence when building your case. We're capable of assisting you in challenging your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the real estate, almost all lenders ask homebuyers to purchase this supplemental insurance plan. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the remaining balance of the loan - whether through market appreciation or principal pay down - dips below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, The August Group Inc. will give you a statement regarding the value of your home. The cost of the appraisal can usually be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially traumatic ordeal for the parties involved, and it is often even more complicated by the troublesome decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from The August Group Inc. so both parties are completely aware of the true market value of their property.
If the parties want to sell the home, they'll have a clearer picture of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Determine a fair and accurate valuation for estate liquidation
The loss of a loved one is a difficult 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 maximum degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to handle these issues, unlike many wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true value of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Relocate to or from Saint Louis County for work
Employee relocation can be a stressful event, and we understand. We take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we recommend relocating employees to provide input on the positive aspects of their property, as well as information regarding any current sales or listings in their area that they want considered.
Close on your home promptly — for an accurate price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what price the house sells for. Our fees aren't a percentage of the sales price, but rather they are based on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted 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, because we're experts in knowing how long homes are one the market.