Real Estate Owned and Foreclosure Appraisal in Porter County
Real Estate in foreclosure and properties that have gone back to the lender's control present particular appraisal problems.
For a house in foreclosure, you need to know the gap between market price and a "quick disposition" value to know your probable charge-off liability.
At AppraiserJoe.com, we have the knowledge in both providing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that consider your time constraints.
Particular challenges can be present when working with owners of property in foreclosure. They might be disinclined to allow an inspection of the home.
They may have abandoned the house already and/or overlooked the care of the property for quite awhile - or in some cases caused damage to the house.
If you're dealing with a house that has already reverted to REO, you will interested in an expeditious disposition. But you may want to know about and analyze three values: as-is, as repaired, and "quick sale". These correspond to:
The value of the house without any repairs performed
Value with the work required to make the home marketable at full market value - comparable with other real estate in the neighborhood
With minimal investment in repairs - to offload the home quickly, possibly to someone inclined to finish the job themselves
Again, we understand your time line and the specific situation of a Real Estate Owned home, as well as the special information you'll need - competing listings, neighborhood trends, and the like. You can rely on AppraiserJoe.com to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.
