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Real Estate Owned Appraisal in Kootenai County
There are various appraisal difficulties when we're talking about a property in foreclosure or one that has returned to the institution's control.
For a home in foreclosure, you would be wise to know the difference between the market value and a "quick disposition" to know your potential charge-off liability.
We can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time line.
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You need a company who has the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Anderson Appraisals for a company you can count on. |
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Specific challenges may be present when working with owners of properties in foreclosure. They might be uncooperative to allowing an inspection of the home.
If they deserted the property already, they might have not taken care of the house for quite awhile - or even worse, ransacked the home.
For real estate that has already reverted to bank owned, you likewise will be going for a speedy resolution. However, you may want to know about and analyze three values - "as-is", "as repaired", and "quick sale". These represent: - The value of the house without any repairs performed
- Possible value with the work necessary to make the house marketable at full market value - comparable with similar houses in the neighborhood
- Somewhere in between, with minor investment in repairs - to sell the property quickly, probably as a "fixer-upper"
Again, we understand your urgency and the specific circumstances of a bank owned home, as well as the special information you will need - competing listings, neighborhood trends, and so forth. You can rely on Anderson Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today.
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