Reasons to hire an appraiser
Thousands of people in Missouri purchase, sell or refinance their home every year. Most of these transactions consist of a simple line item for an appraisal. Almost all lenders still want a local expert because the stakes are incredibly high, even though there are an increasing number of automated home valuation processes that might seem more practical than an appraisal. You might assume that obtaining a mortgage is the only reason you should get an appraisal, but there are more instances when the services of a certified, independent real estate professional could come in handy.
Dispute your tax assessment
If you live 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 appealing your tax assessment.
Eliminating PMI for mortgage payments
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, most lenders ask homeowners to buy this additional insurance policy. That policy is Private Mortgage Insurance, or PMI. Oftentimes, this extra payment is folded into the monthly mortgage payment and is quickly forgotten. PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - dips below the 80% mark, making this very unfortunate. In fact, the United States Congress invoked a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to do away with the PMI payments 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 expense of the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is often complicated by the burdensome decision of who maintains the property, and it can be a particularly traumatic event for both parties. 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 house, regardless of the situation.
The parties will have a better idea of what price to set, if they want to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair evaluation.
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 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 fullest degree of discretion.
Unlike many wealthy individuals, most Americans don't have dedicated estate planners or executors to manage these issues. A home or other property often makes up a disproportionate share of the total estate value, so understanding the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Saint Louis County through an employee relocation program
Employee relocation can be a stressful event, and we understand. That being said, 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 features of their property, along with information regarding any current sales or listings in their area that they want considered.
Close on your home quickly — 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. 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 finish the appraisal report.
We examine the difference in value items like an additional bathroom or a kitchen remodel can make on a daily basis. 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, because we're experts in knowing how long homes stay on the market.