6 Reasons to choose an appraisal from The August Group Inc.
Thousands of people in Missouri purchase, sell or refinance their home each year. Many of these transactions consist of a simple line item for an appraisal. Almost all lenders still call in a local expert because the stakes are incredibly high, even though there are a growing number of automated home valuation methods that might appear to be more practical than an appraisal. You might believe that securing a mortgage is the only basis for getting an appraisal, but there are other instances when the services of a certified, independent real estate professional could be helpful.
Challenge your tax assessment
If you are in an area where the property value has 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.
Remove PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the property, many lenders ask home buyers to buy this added insurance policy. That policy is Private Mortgage Insurance, or PMI. Since the added payment is usually folded into the monthly mortgage payment, it is often forgotten. This is unfortunate because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark. In fact, the United States Congress implemented a law in 1998 (the Homeowners Protection Act of 1998) requiring lenders to dismiss the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to get rid of PMI, The August Group Inc. will produce a statement regarding the value of your home. The cost of the appraisal can generally be offset in a short amount of 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 an especially horrible experience for both parties, and it is often more complicated by the burdensome decision of who gets the property. 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 home.
If the parties want 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 gotten a fair evaluation.
Fair and accurate 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 residential property involved. We guarantee the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Unlike wealthy individuals, most Americans do not have dedicated estate planners or executors to take care of these affairs. And since a home or other property often makes up an unequal share of the total estate value, understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Relocate to or from Saint Louis County for work
We understand the headaches involved with an employee relocation. That being said, we take great care in organizing an accommodating appointment time for the appraisal inspection. During our detailed inspection, we encourage relocating employees to provide input on the positive characteristics of their property, as well as information about any recent sales or listings in their area that they want considered.
Close on your home quickly — for an accurate price
A professional appraisal will help you make a more informed decision when determining your asking price, whether you want to sell your home on your own or use the assistance of a real estate agent. An appraiser has no vested interest in what price the house sells for, unlike real estate agents. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
On a daily basis, we analyze the difference in value items like an extra bathroom or a kitchen remodel can make. Obtaining a professional appraisal is a trusted 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 stay on the market.