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Lundquist Appraisals & Real Estate Services is experienced when you need appraisals for foreclosures in Wabash, Indiana
Properties that have gone back to the financial institution's control and properties in foreclosure bring forth unique appraisal difficulties.
For a property in foreclosure, you would be wise to recognize the gap between market value and a "quick disposition" value to know your potential charge-off liability.
The professionals at Lundquist Appraisals & Real Estate Services can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time constraints.
Occupants of dwellings in foreclosure may be disinclined to allow an inspection of the home, thus presenting particular challenges.
Sometimes the houses have been ransacked, often at the hands of the residents. Or, it's common to discover nobody has lived in house for months or the home neglected for extended periods of time.
If you're dealing with home that has changed to REO, you will interested in a fast disposition. However, you may want to understand and analyze three values: as-is, as repaired, and "quick sale". These represent: - The value of the property without any work done to it
- Possible value with the work needed to make the property marketable at full market value - consistent with similar homes in the neighborhood
- Somewhere in the middle, with minimal investment in repairs - to get rid of the home quickly, likely as a "fixer-upper"
Again, we understand your time line and the specific situation of a bank owned property, in addition to the unique information you will need - competing listings, market trends, and so forth. You can rely on Lundquist Appraisals & Real Estate Services to take on the task of your REO professionally and efficiently. Contact us today.
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