Foreclosure Appraisal in Macomb CountyHomes that have gone back to the institution's holding and houses in foreclosure create specific appraisal challenges. For a property in foreclosure, you may need to recognize the difference between the fair market and "quick disposition" price to know your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time constraints. You need a company with the training to work with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Appraisal Connect, LLC. Unique challenges can be present when dealing with owners of property in foreclosure. They may be unwilling to allow an inspection of the home. Sometimes the houses have been ransacked, unfortunately at the hands of the residents themselves. Or, it's likely you'll find the families have moved out or the home languishing in disrepair for extended periods of time. You will be interested in a quick disposition if the property has reverted to REO. So you need to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the work needed to make the house marketable at full market value commensurate with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned home, as well as the special data you'll need -- competing listings, neighborhood trends, and the like. You can rely on Appraisal Connect, LLC to handle the task of your bank owned property professionally and efficiently. Contact us today. |