Why you should order an appraisal from The August Group Inc.
To many, an appraisal is simply another cost in the long list of items for a home sale or refinance. While there are a growing number of automated home valuation processes that may appear to be more prudent than an appraisal, the majority of lenders still call for a local expert because the stakes are very high. You might think that securing a mortgage is the only reason to get an appraisal, but there are additional times when the services of a licensed, independent real estate professional could be beneficial.
Dispute your tax assessment
It's likely you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a previous assessment of your real estate, so if prices have declined in your area, 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 capable of assisting you in appealing your tax assessment.
PMI removal to reduce a mortgage payment
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that nearly all lenders ask homeowners to buy 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 bundled into the monthly mortgage payment, it is often forgotten. This is bad because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress requiring lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
The August Group Inc. can provide you with a statement regarding the value of your home, and the cost of the appraisal can generally be regained in little time because you'll no longer be paying the PMI.
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Get a clear valuation on a home for divorce settlements
A divorce can be a very daunting experience for both parties, and it is often further complicated by the challenging decision of who maintains the house. Regardless of the situation, it's a good idea to get an appraisal from The August Group Inc. so both parties are completely aware of the true market value of their home.
If the parties want 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 received a fair evaluation.
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 utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to handle these affairs, unlike wealthier individuals. 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 walk away knowing they've received an honest deal.
Move to or from Saint Louis County for work
We know the stress involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information about any current sales or listings in their area that they want considered during our detailed inspection.
Sell your home quickly — at the right price
Whether you want 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 regarding your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are based on our efforts to complete the appraisal report and not a percentage of the sales price.
On a daily basis, we analyze 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 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.