Real Estate Owned and Foreclosure Appraisal in Saint Louis County
Properties in foreclosure and homes that have returned to the bank's holding create special appraisal challenges.
It's key to recognize the difference between fair market price and "quick disposition" worth to know your likely write-down liability when dealing with a property in foreclosure. The professionals at The August Group Inc. can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your urgency.
We have the expertise to deal with the particular dynamics of a foreclosure appraisal. For a company you can trust, contact The August Group Inc..
Owners of homes in foreclosure, of course, can present particular challenges. They might be uncooperative to allowing an inspection of the home. Often the subjects have been vandalized, unfortunately by the former residents themselves. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for extended periods of time.
You'll be interested in a quick disposition if the home has changed to REO. So you might want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work done to it, with the repairs required to make the home marketable at full market value corresponding with similar houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your urgency and the unique circumstances of a Real Estate Owned house, in addition to the unique information you'll 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.