6 Reasons to choose an appraisal from The August Group Inc.
To a lot of us, an appraisal is simply a line item in the long list of items for a home sale or refinance. While there are a multiplying number of automated home valuation processes that might appear more prudent than an appraisal, the majority of lenders still want a local expert because the stakes are very high. You might assume that getting a mortgage is the only reason to acquire an appraisal, but there are additional cases when the services of a licensed, independent real estate professional might be helpful.
Dispute your tax assessment
It's possible you're paying too much in property taxes if you reside in an area where property values have declined. Property taxes are based upon a previous assessment of your house, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homebuyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the property. Oftentimes, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. PMI is no longer required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% level, making this very unfavorable. In fact, the 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.
The August Group Inc. can give you a statement regarding the value of your home, and the cost of the home valuation can generally be regained in just a few months because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce is a particularly horrible ordeal for the parties involved, and it is often more complicated by the burdensome decision of who maintains the house. 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 house, regardless of the circumstances.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Determine an accurate and fair valuation for estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the maximum degree of discretion.
Most Americans do not have dedicated estate planners or executors to manage these matters, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Move to or from Saint Louis County for work
We are familiar with the headaches associated with an employee relocation. That's why we take great care in organizing an accommodating 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 about any new sales or listings in their area that they want considered.
Close on your home quickly — at an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. Getting a professional appraisal is a trusted way to determine 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, because we're experts in knowing how long homes are one the market.