Reasons to get an appraisal
To a lot of us, an appraisal is simply another cost in the long list of items for a home purchase or refinance. While there are a multiplying number of automated home valuation methods that may appear more prudent than an appraisal, almost all lenders still call for a local expert because the stakes are so high. You might believe that obtaining a mortgage is the only reason you should get an appraisal, but there are additional times when the services of a licensed, independent real estate professional might be beneficial.
Challenge your tax assessment
If you reside in an area where property values have depreciated, 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 appealing your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, many lenders ask buyers to purchase this additional insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this added payment is folded into the monthly mortgage payment and is soon forgotten. This is unfavorable because PMI isn't necessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% mark. In fact, the United States Congress passed a law in 1998 (the Homeowners Protection Act of 1998) that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, The August Group Inc. can produce a statement regarding the value of your home. The price you paid for the home valuation can generally be recovered in little time because you'll no longer be paying the PMI.
Get your appraisal from The August Group Inc.Order today
Divorce settlement with less stress
A divorce can be an especially daunting experience for both parties, and it is often even more complicated by the burdensome decision of who keeps the home. Regardless of the situation, 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 wish to sell the home, they'll have a a good idea of what price to set. And if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Determine a fair and accurate 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 requires an appraisal to establish Fair Market Value for the residential property involved. We ensure the fullest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to handle these matters. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've received a fair deal.
Move to or from Saint Louis County through an employee relocation program
Employee relocation is a stressful event, and we understand. That being said, we take great care in establishing a convenient appointment time for the appraisal inspection. During our thorough inspection, we suggest relocating employees to provide input on the positive aspects of their property, along with information about any current sales or listings in their neighborhood that they want considered.
Close on 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 can help you make a better educated decision when determining your asking price. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees aren't a percentage of the sales price, but rather they rest on our efforts to complete the appraisal report.
On a daily basis, we examine the difference in value things like an extra bathroom or a kitchen remodel can make. And we're experts in knowing how long housesare on the market. So, obtaining a professional appraisal is a trusted 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.