Foreclosure and REO Appraisal in Mecklenburg CountyProperties that have reverted to the bank's holding and houses in foreclosure bring forth particular appraisal problems.
When dealing with a home in foreclosure, you should ascertain market value versus a "quick disposition" assessment to analyze your potential charge-off liability. At Belmont Metro Appraisals, LLC, we have the experience in both supplying snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time line.
Owners of houses in foreclosure may be disinclined to allow an inspection of the house, thus presenting specific challenges. If they deserted the home already, they could have not taken care of the property for a long time - or unfortunately, ransacked the property.
For a home that has reverted to bank owned, you most likely will want it off your hands as quickly as possible. However, you may want to know and examine three values - "as-is", "as repaired", and "quick sale". These represent: