Foreclosure and Real Estate Owned Appraisals in Saint Louis County
There are specific appraisal challenges regarding a house in foreclosure or one that has reverted to the lender's ownership.
When dealing with a home in foreclosure, you should differentiate the difference between fair market price and "quick disposition" value to analyze your potential charge-off liability. At The August Group Inc., we have the training in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time line.
The professionals at The August Group Inc. have the qualifications to handle the special dynamics of a foreclosure appraisal. For a company you can rely on, contact The August Group Inc..
Occupants of houses in foreclosure could be opposed to allowing an inspection of the property, thus presenting specific challenges. Often the houses have been ransacked, unfortunately by the former residents. Or, it's common to find a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
For real estate that has reverted to REO, you likewise will be interested in a fast resolution . But you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any work performed, with the repairs called for to make the property marketable at full market value appropriate with similar properties in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely to someone who'd rather finish the job themselves. Again, we understand your time line and the special situation of an REO house, in addition to the unique data you'll need -- competing listings, neighborhood trends, and so forth. You can rely on The August Group Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today.