REO and Foreclosure Appraisals in Saint Louis County
Houses that have gone back to the financial institution's holding and properties in foreclosure present particular appraisal problems.
For a house in foreclosure, you may need to know the difference between fair market worth and "quick disposition" price to know your possible charge-off liability. The professionals at The August Group Inc. can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your time line.
The August Group Inc. has the expertise to deal with the special dynamics of a foreclosure appraisal. Contact The August Group Inc. for a company you can count on.
Owners of properties in foreclosure may be opposed to allowing an inspection of the house, thus presenting unique challenges. Sometimes the homes have been vandalized, often at the hands of the former residents themselves. Or, it's common to discover a house at least abandoned or the home languishing in disrepair for extended periods of time.
For real estate that has gone back to REO, you probably will be seeking an expedited resolution . However, you might want to know and review three values: as-is, as repaired, and "quick sale." These represent the value of the home without any repairs performed, with the work called for to make the house marketable at full market value appropriate with competing homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the unique situation of a Real Estate Owned house, as well as the unique data you'll need -- competing listings, neighborhood trends, and so forth. You can rely on The August Group Inc. to take on the task of your bank owned property professionally and efficiently. Contact us today.