Colliver Appraisal Service is experienced when you need appraisals for bank owned properties in Fayette CountyThere are specific appraisal problems for a property in foreclosure or one that has reverted to the financial institution's possession.
For a house in foreclosure, you would be wise to know the difference between market and a "quick disposition" value to know your likely charge-off liability. At Colliver Appraisal Service, we have the background in both presenting snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that factor in your time constraints.
Unique challenges might be present when dealing with owners of property in foreclosure. They may be unwilling to allow an inspection of the house. They might have moved out of the property already and/or overlooked the care of the house for awhile - or gone as far as caused damage to the home.
For real estate that has returned to REO, you most likely will want to get rid of it quickly. Regardless, you'll still want to consider three angles for figuring the value of the subject property: