Foreclosure and REO Appraisals in Saint Louis County
Properties that have returned to the institution's holding and houses in foreclosure create specific appraisal difficulties.
You should recognize the difference between fair market value and "quick disposition" value to evaluate your probable charge-off liability when dealing with a property in foreclosure. At The August Group Inc., we have the background in both supplying snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company who has the expertise to work with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact The August Group Inc..
Owners of property in foreclosure might be opposed to allowing an inspection of the home, thus presenting special challenges. If they left the property already, they might have overlooked the care of the house for quite some time - or worse, ransacked the home.
You will be interested in an expedited disposition if the home has changed to Real Estate Owned. So you need to understand and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work done to it, with the repairs needed to make the home marketable at full market value appropriate with competing homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the specific situation of a bank owned property, as well as the unique data you will need -- competing listings, market trends, and the like. You can rely on The August Group Inc. to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.