Why you should hire an appraiser
Thousands of people in Missouri purchase, sell or refinance their home every month. Many of these transactions involve a simple line item for an appraisal. Nearly all lenders still need a local expert because the stakes are so high, even though there are an increasing number of automated home valuation processes that might seem more economical than an appraisal. You might assume that securing a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a certified, independent real estate professional could be beneficial.
Contest your tax assessment in Saint Louis County
If you are 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. We can assist you in challenging your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home owneris more than 80% of the actual value of the home, many lenders ask home buyers to take out this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that additional payment is usually lumped into the monthly mortgage payment, it is often forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - dips below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to dismiss 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 regained in just a few months because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce is often complicated by the hard decision of who gets the property, and it can be a very traumatic occurrence for both parties. Regardless of the circumstances, it's a good idea to get 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 need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
Losing a loved one is a painful time in life, and settling an estate from a death, or probate, often requires an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the maximum degree of discretion.
Most Americans don't have dedicated estate planners or executors to manage these affairs, unlike wealthy individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Move to or from Saint Louis County for work
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered during our intensive inspection.
Sell your home promptly — at 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 will help you make a better educated decision when determining your selling price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they are based on our efforts to complete the appraisal report.
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 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 properties stay on the market.