6 Reasons to order an appraisal from The August Group Inc.
To many, an appraisal is simply one more thing on the settlement sheet for a home purchase or refinance. And while there are a budding number of automated home valuation systems that might appear more cost-effective than an appraisal, most lenders still call for a local expert because the stakes are very high. Is obtaining a mortgage the only reason to acquire an appraisal? Are there other situations when the services of a licensed, independent real estate professional could come in handy? Absolutely.
Challenge your tax assessment
If you are in an area where the value of property has depreciated, 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. At The August Group Inc., we're equipped to assist you in disputing your tax assessment.
Eliminate PMI to lower your mortgage payment
When the amount being loaned to the homebuyeris more than 80% of the actual value of the real estate, almost all lenders ask homeowners to buy this extra insurance policy. That policy is Private Mortgage Insurance, or PMI. This extra payment is often bundled into the monthly mortgage payment and is promptly forgotten. PMI is unnecessary when the remaining balance of the loan - whether through market appreciation or principal pay down - goes below the 80% level, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was invoked by the United States Congress that requires lenders to do away with 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 cost of the home valuation can often be regained in little time because you'll no longer be paying the PMI.
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Get a fair valuation on a home take make a divorce settlement less stressful
A divorce is often complicated by the strenuous decision of who gets the home, and it can be a particularly daunting experience for both parties. So both parties are fully aware of the true market value of their property, it's a good idea to get an appraisal from The August Group Inc., regardless of the situation.
The parties will have a a good 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 gotten a fair evaluation.
Determine a fair and accurate valuation for 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 real estate 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 manage these affairs, unlike wealthy individuals. A home or other property often makes up an uneven share of the total estate value, so understanding the true worth of the real estate at hand is of significant importance to ensuring disputing parties leave knowing they've gotten an honest deal.
Move to or from Saint Louis County through an employee relocation program
We know the stress involved with an employee relocation. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide remarks on the positive attributes of their property, as well as information regarding any recent sales or listings in their area that they want considered during our intensive inspection.
Close on your home promptly — for 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 more informed decision regarding your asking price. Unlike 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 complete the appraisal report.
On a daily basis, we analyze the difference in value things like an extra bathroom or a kitchen remodel can make. Getting a professional appraisal is a trusted way to determine what improvements will add value and what an applicable 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.