Foreclosure and Real Estate Owned Appraisals in Saint Louis County
Houses that have gone back to the bank's control and houses in foreclosure create specific appraisal difficulties.
It's vital to ascertain the difference between fair market price and "quick disposition" worth to know your potential write-down liability when dealing with a house in foreclosure. The professionals at The August Group Inc. can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time constraints.
You need a company with the training to deal with the unique dynamics of a foreclosure appraisal. Contact The August Group Inc. for a company you can count on.
Special challenges can be present when working with owners of property in foreclosure. They might be unwilling to allow an inspection of the house. Sometimes the subjects have been ransacked, often at the hands of the former residents. Or, it's likely you'll find a house at least abandoned or the home neglected for long of time.
You will be interested in a speedy disposition if the property has reverted to REO. So you may want to understand and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work performed, with the repairs necessary to make the home marketable at full market value corresponding with similar houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the special situation of a Real Estate Owned house, as well as the specific data you will need -- competing listings, market trends, and so forth. You can rely on The August Group Inc. to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.