Foreclosure and Real Estate Owned Appraisal in Lucas County
There are special appraisal problems regarding a home in foreclosure or one that has gone back to the financial institution's possession.
It's key to understand the difference between fair market value and "quick disposition" price to evaluate what losses you could have to endure when dealing with a house in foreclosure. Draheim Appraisal Services, LLC has the training in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
Draheim Appraisal Services, LLC has the expertise to work with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact Draheim Appraisal Services, LLC.
Particular challenges can be present when dealing with owners of houses in foreclosure. They could be opposed to allowing an inspection of the house. If they left the house already, they could have ignored the care of the property for some time - or worse, caused damage to the home.
You'll be interested in a quick disposition if the property has returned to Real Estate Owned. So you need to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any repairs done to it, with the work necessary to make the home marketable at full market value comparable with similar houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the specific situation of a Real Estate Owned home, in addition to the unique information you will need -- competing listings, neighborhood trends, and the like. You can count on Draheim Appraisal Services, LLC to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.