Why you should hire an appraiser
Thousands of people in Missouri purchase, sell or refinance their home every year. A lot of these transactions include a simple line item for an appraisal. The majority of lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation systems that may appear to be less expensive than an appraisal. You might think that getting a mortgage is the only basis for getting an appraisal, but there are more instances when the services of a licensed, independent real estate professional might be helpful.
Contest your tax assessment
It's likely 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 real estate, so if prices are less than what they used to be in your neighborhood, 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 appealing your tax assessment.
PMI removal to lower a mortgage payment
Private Mortgage Insurance, or PMI, is an added insurance policy that most lenders ask homeowners to buy when the amount being loaned to the homeowner is more than 80% of the actual value of the home. This additional payment is often bundled into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI becomes unnecessary when the remainder of the loan - whether through market appreciation or principal pay down - goes below the 80% level. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to remove the PMI installments when the loan-to-value ratio conditions have been met.
The August Group Inc. will give you a statement regarding the value of your home, and the cost of the appraisal can often be recovered 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 can be a very daunting event for both parties, and it is often even more complicated by the difficult decision of who maintains the house. Regardless of the circumstances, it's a good idea to order an appraisal from The August Group Inc. so both parties are entirely aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain an accurate and fair valuation for 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 real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up an unequal 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 walk away knowing they've gotten an honest deal.
Move to or from Saint Louis County for work
Employee relocation can be a stressful event, and we understand. That's why we take great care in setting up an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide input on the positive characteristics of their property, along with information regarding any current sales or listings in their neighborhood that they want considered during our detailed inspection.
Close on your home quickly — for the right 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 regarding your asking price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long housesare on the market. So, seeking 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.