Reasons to order an appraisal from The August Group Inc.
Every year, thousands of people in Missouri purchase, sell or refinance their home. Many of these transactions consist of a simple line item for an appraisal. And even though there are an increasing number of automated home valuation methods that might appear more practical than an appraisal, practically all lenders still call in a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason to get an appraisal, but there are more cases when the services of a certified, independent real estate professional might be beneficial.
Appeal your tax assessment
If you live in an area where property values have declined, it's possible you're paying too much in property taxes. An appraisal from The August Group Inc. is your best evidence when building your case. At The August Group Inc., we're qualified to assist you in appealing your tax assessment.
PMI removal to reduce your mortgage payment
Private Mortgage Insurance, or PMI, is an additional insurance policy that many lenders ask homeowners to purchase when the amount being loaned to the homebuyer is more than 80% of the actual value of the property. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't necessary when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% level, making this very unfortunate. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, The August Group Inc. can give you a statement regarding the value of your home. The cost of the home valuation can usually be regained in a short amount of time because you'll no longer be paying the PMI.
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Settle a divorce with less stress
A divorce is a very traumatic event for the parties involved, and it is often even more complicated by the challenging decision of who keeps the house. So both parties are completely aware of the true market value of their house, it's a good idea to get an appraisal from The August Group Inc., regardless of the circumstances.
If the parties need to sell the home, they'll have a better idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair assessment.
Accurate and fair 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 fullest degree of discretion.
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 unequal share of the total estate value, understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Saint Louis County through an employee relocation program
We are familiar with the stress associated with an employee relocation. That being said, 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 remarks on the positive characteristics of their property, along with information regarding any current sales or listings in their area that they want considered.
Sell your home promptly — for an accurate price
Whether you decide to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. 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 complete the appraisal report and not a percentage of the sales price.
We determine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long houses are one the market.