Foreclosure and Real Estate Owned Appraisal in Saint Louis County
There are particular appraisal problems when it comes to a house in foreclosure or one that has gone back to the bank's ownership.
When dealing with a property in foreclosure, it's important to know the difference between fair market worth and "quick disposition" worth to analyze your potential charge-off liability. The August Group Inc. has the background in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
You need a company with the qualifications to work with the specific dynamics of a foreclosure appraisal. For a company you can trust, contact The August Group Inc..
Particular challenges might be present when dealing with owners of property in foreclosure. They might be disinclined to allow an inspection of the home. They might have abandoned the home already and/or ignored the care of the property for quite awhile - or even worse, vandalized the house.
For a property that has reverted to REO, you likewise will be interested in an expeditious disposition . But you might want to know and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work performed, with the repairs due to make the property marketable at full market value comparable with the other homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your urgency and the unique circumstances of a Real Estate Owned property, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can bank on The August Group Inc. to handle the task of your bank owned property with expertise and professionalism. Contact us today.