REO Appraisals
Appraisal Source, Inc. is experienced when it comes to foreclosures in Indianapolis.
Properties that have returned to the institution’s control and houses in foreclosure create unique appraisal challenges.
For a property in foreclosure, you need to know the difference between the fair market value and “quick disposition” value to know your possible charge-off liability. At Appraisal Source, Inc., we have the background in both furnishing snapshots of fair market value for our mortgage lending clients, in addition to “quick sale” forecasts that understand your urgency.
Appraisal Source, Inc. has the experience to handle the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Appraisal Source, Inc..
Owners of properties in foreclosure, of course, can present specific challenges. They could be unwilling to allow an inspection of the property. They may have deserted the house already and/or neglected care of the property for awhile – or in some cases intentionally harmed the home.
You’ll be interested in an expedited disposition if the home has reverted to REO. So you may want to understand and compare three values: as-is, as repaired, and “quick sale.” These symbolize the worth of the house without any repairs done to it, with the repairs called for to make the house marketable at full market value commensurate with the other properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs – selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your timeline and the unique situation of a bank owned house, in addition to the special data you’ll need — competing listings, market trends, and so forth. You can bank on Appraisal Source, Inc. to take on the task of your REO professionally and efficiently. Contact us today.
