Why you should get an appraisal from The August Group Inc.
Thousands of people in Missouri purchase, sell or refinance their home each month. Many of these transactions consist of a simple line item for an appraisal. While there are a multiplying number of automated home valuation systems that may seem more economical than an appraisal, nearly all lenders still need a local expert because the stakes are incredibly high. You might assume that obtaining a mortgage is the only reason to get an appraisal, but there are other situations when the services of a licensed, independent real estate professional might come in handy.
Dispute your tax assessment
It's quite 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 house, so if prices have declined in your neighborhood, you can appeal your assessment and save money. An appraisal from The August Group Inc. is your best evidence when building your case. We're qualified to assist you in challenging your tax assessment.
Getting rid of your PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance policy that nearly all lenders ask home buyers to purchase when the amount being loaned to the home buyer is more than 80% of the actual value of the real estate. This added payment is often bundled into the monthly mortgage payment and is quickly forgotten. PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress requiring lenders to remove the PMI installments 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 price you paid for 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 often complicated by the burdensome decision of who gets the property, and it can be a very horrible event for both parties. Regardless of the circumstances, 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 better idea of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
Accurate and fair 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 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 take care of these matters, unlike wealthy individuals. And since a home or other property often makes up an uneven share of the total estate value, knowing the true value of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've received an honest deal.
Move to or from Saint Louis County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive aspects of their property, along with information about any new sales or listings in their neighborhood 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 will help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees are based on our efforts to finish the appraisal report and not a percentage of the sales price.
On a daily basis, we examine the difference in value items like an additional bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a reliable way to determine what improvements will add value and what an applicable 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 are one the market.