Foreclosure Appraisal in Shawnee County
There are various appraisal challenges involved in a house in foreclosure or one that has reverted to the financial institution's possession.
When there is a house in foreclosure, it's important to ascertain the difference between fair market worth and "quick disposition" value to analyze your likely charge-off liability. At Taggart and Associates, Inc., we have the background in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line.
You need a company with the expertise to work with the unique dynamics of a foreclosure appraisal.
Unique challenges may be present when working with owners of houses in foreclosure. They might be uncooperative to allowing an inspection of the home. They may have deserted the home already and/or neglected care of the house for some time - or unfortunately, ransacked the house.
For a home that has already changed to Real Estate Owned, you probably will be going for a fast disposition . But you might want to know and analyze three values: "as-is", "as repaired", and "quick sale." These correspond to the value of the property without any work performed, with the work required to make the house marketable at full market value comparable with competing properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the specific circumstances of a bank owned property, in addition to the unique information you will need -- competing listings, market trends, and the like. You can rely on Taggart and Associates, Inc. to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.