Foreclosure and Real Estate Owned Appraisals in Black Hawk County
Homes in foreclosure and houses that have reverted to the institution's possession present special appraisal difficulties.
When there is a home in foreclosure, it's important to recognize the difference between fair market value and "quick disposition" worth to know your possible charge-off liability. At McRae Appraisals LLC, we have the knowledge in both supplying snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
The professionals at McRae Appraisals LLC have the qualifications to handle the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact McRae Appraisals LLC.
Owners of properties in foreclosure, of course, can present unique challenges. They may be opposed to allowing an inspection of the home. Often the houses have been intentionally damaged, unfortunately at the hands of the residents themselves. Or, it's likely you'll discover nobody has occupied the house for months or the home languishing in disrepair for long of time.
You will be interested in a fast disposition if the house has returned to bank owned. So you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any work performed, with the work necessary to make the house marketable at full market value corresponding with similar properties in the neighborhood, 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 timeline and the specific situation of an REO home, in addition to the unique information you'll need -- competing listings, market trends, and so forth. You can bank on McRae Appraisals LLC to take on the appraisal of your REO professionally and efficiently. Contact us today.