Real Estate Owned and Foreclosure Appraisal in Saint Louis County
Properties that have gone back to the bank's ownership and homes in foreclosure present specific appraisal challenges.
For a home in foreclosure, you might need to know the gap between the fair market price and "quick disposition" price to know your potential charge-off liability. At The August Group Inc., we have the training in both furnishing snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your urgency.
The August Group Inc. has the experience to deal with the specific dynamics of a foreclosure appraisal. Contact The August Group Inc. for a company you can trust.
Specific challenges might be present when dealing with owners of properties in foreclosure. They might be disinclined to allow an inspection of the home. If they abandoned the house already, they may have overlooked the care of the home for some time - or even worse, caused damage to the house.
You will be interested in a quick disposition if the house has already reverted to bank owned. So you may want to know and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any repairs performed, with the repairs due to make the home marketable at full market value corresponding with similar homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the specific circumstances of a bank owned house, in addition to the special data you will need -- competing listings, market trends, and so forth. You can count on The August Group Inc. to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.