Foreclosure and Real Estate Owned Appraisal in Will CountyReal Estate in foreclosure and properties that have returned to the lender's possession create specific appraisal problems. You need to ascertain the difference between fair market price and "quick disposition" price to know your likely charge-off liability when dealing with a home in foreclosure. At First Appraisal Services, we have the experience in both furnishing snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your timeline. You need a company who has the qualifications to handle the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact First Appraisal Services. Owners of properties in foreclosure, of course, can present special challenges. They could be disinclined to allow an inspection of the home. Often the houses have been intentionally damaged, often by the residents. Or, it's likely you'll discover nobody has lived in house for months or the home languishing in disrepair for long of time. You will be interested in an expedited disposition if the home has reverted to Real Estate Owned. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the work needed to make the home marketable at full market value appropriate with the other houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the special situation of a bank owned property, as well as the unique information you'll need -- competing listings, neighborhood trends, and the like. You can rely on First Appraisal Services to take on the task of your REO professionally and efficiently. Contact us today. |