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Foreclosure and Real Estate Owned Appraisal in Allen County
Houses in foreclosure and houses that have returned to the bank's holding present various appraisal problems.
For a home in foreclosure, you should recognize the difference between the market price and a "quick disposition" value to know your probable charge-off liability.
We can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your urgency.
Owners of property in foreclosure could be opposed to allowing an inspection of the house, thus presenting specific challenges.
They might have abandoned the house already and/or neglected care of the home for a long time - or gone as far as intentionally harmed the property.
For real estate that has changed to bank owned, you likewise will be going for an expeditious resolution. In any case, you'll still want to consider three ways of looking at the value of the real estate at hand:- As Repaired. Possible market value with the repairs required to make the house marketable at full market value - comparable with competing properties in the area
- As-is. The market value of the home without any repairs performed
- Quick sale. Somewhere in between, with minimal investment in repairs - to sell the home quickly, possibly as a "fixer-upper"
Again, we understand your time line and the unique circumstances of an REO home, as well as the unique information you will need - competing listings, market trends, and the like. You can count on Faye Ardoin to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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