6 Reasons you should order an appraisal from The August Group Inc.
To a lot of people, an appraisal is simply a line item on the settlement sheet for a home purchase or refinance. While there are an increasing number of automated home valuation methods that may seem more practical than an appraisal, almost all lenders still call in a local expert because the stakes are so high. You might think that getting a mortgage is the only reason to get an appraisal, but there are additional instances when the services of a certified, independent real estate professional might be beneficial.
Contest your tax assessment
If you reside 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're equipped to assist you in challenging your tax assessment.
PMI removal to reduce a mortgage payment
When the amount being loaned to the homeowneris more than 80% of the actual value of the property, many lenders ask homebuyers to take out this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. Seeing that extra payment is usually lumped 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 invoked by the United States Congress requiring lenders to remove 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 give you a statement regarding the value of your home. The expense of the appraisal can often be offset in a short amount of time because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce can be an especially traumatic event for both parties, and it is often further complicated by the troublesome decision of who gets the property. Regardless of the situation, it's a good idea to get an appraisal from The August Group Inc. so both parties are entirely aware of the true market value of their house.
The parties will have a clearer picture of what price to set, if they wish to sell the home. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've gotten 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 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 fullest degree of discretion.
Most Americans don't have dedicated estate planners or executors to handle these matters, unlike wealthier individuals. And seeing that a home or other property often makes up an uneven share of the total estate value, knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten 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 intensive inspection, we suggest relocating employees to provide input on the positive features of their property, as well as information about any current sales or listings in their area that they want considered.
Close on your home quickly — at the right price
Whether you choose to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what amount the house sells for, unlike real estate agents. Our fees depend on our efforts to finish the appraisal report and and aren't related to the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long homesare on the market. So, seeking a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.