Real Estate Owned and Foreclosure Appraisals in Saint Louis County
Homes that have gone back to the institution's holding and properties in foreclosure create various appraisal problems.
You need to differentiate the difference between fair market worth and "quick disposition" worth to know your likely charge-off liability when dealing with a property in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time line.
You need a company who has the experience to handle the special dynamics of a foreclosure appraisal. Contact The August Group Inc. for a company you can count on.
Owners of property in foreclosure, of course, can present particular challenges. They might be disinclined to allow an inspection of the home. If they have abandoned the property already, they could have neglected care of the property for a long time - or unfortunately, caused damage to the house.
You'll be interested in a fast disposition if the property has already changed to REO. So you might want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work done to it, with the repairs necessary to make the home marketable at full market value consistent with similar real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely to someone who'd rather finish the job themselves. Again, we understand your urgency and the special circumstances of a Real Estate Owned home, in addition to the special information you will need -- competing listings, market trends, and the like. You can rely on The August Group Inc. to take on the task of your bank owned property professionally and efficiently. Contact us today.