The August Group Inc. is a company you can trust when it comes to foreclosures in Saint Louis
There are specific appraisal challenges when we're talking about a property in foreclosure or one that has reverted to the financial institution's possession.
For a property in foreclosure, you may need to recognize the gap between the fair market value and "quick disposition" price to know your probable charge-off liability. At The August Group Inc., we have the background in both presenting snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time constraints.
The professionals at The August Group Inc. have the training to deal with the special dynamics of a foreclosure appraisal. For a company you can trust, contact The August Group Inc..
Occupants of property in foreclosure may be opposed to allowing an inspection of the property, thus presenting special challenges. Sometimes the properties show signs of vandalism, unfortunately at the hands of the residents themselves. Or, it's likely you'll discover the families have moved out or the home neglected for extended periods of time.
You'll be interested in an expedited disposition if the home has reverted to REO. So you need to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs performed, with the work necessary to make the home marketable at full market value comparable with the other real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the special situation of a bank owned house, in addition to the unique data you will need -- competing listings, neighborhood trends, and so forth. You can count on The August Group Inc. to take on the task of your bank owned property with expertise and professionalism. Contact us today.