Reasons to consider an appraisal from The August Group Inc.
Thousands of people in Missouri purchase, sell or refinance their home every year. A lot 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 a developing number of automated home valuation methods that may appear more cost-effective than an appraisal. Is getting a mortgage the only reason you should get an appraisal? Are there other cases when the services of a certified, independent real estate professional might be beneficial? You bet there are.
Contest 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. Ad Valorem taxes are determined by a past assessment of your home, so if values are less than what they used to be in your area, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in disputing your tax assessment.
PMI removal to reduce your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, most lenders ask homeowners to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. More often than not, this extra payment is lumped into the monthly mortgage payment and is soon forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the United States Congress invoked 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.
The August Group Inc. can produce a statement regarding the value of your home, and the expense of the home valuation can generally be offset in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce can be a particularly traumatic event for both parties, and it is often further complicated by the troublesome decision of who keeps the property. So both parties are completely aware of the true market value of their home, it's a good idea to order an appraisal from The August Group Inc., regardless of the situation.
If the parties wish to sell the home, they'll have a a good 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 gotten a fair assessment.
Accurate and fair estate liquidation
Losing 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 residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Most Americans do not have dedicated estate planners or executors to take care of these issues, unlike wealthier individuals. A home or other property often makes up a disproportionate share of the total estate value, so 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.
Relocate to or from Saint Louis County for work
Employee relocation is a stressful event, and we understand. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we suggest relocating employees to provide remarks on the positive attributes of their property, as well as information about any recent sales or listings in their area that they want considered.
Sell your home promptly — for the right price
A professional appraisal will help you make a better educated decision when determining your selling price, whether you choose to sell your home on your own or with the help of a real estate agent. An appraiser has no vested interest in what amount the house sells for, apart from real estate agents. Our fees aren't related to the sales price, but rather they depend on our efforts to complete the appraisal report.
On a daily basis, we determine the difference in value items like an additional bathroom or a kitchen remodel can make. Seeking 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 properties stay on the market.