Foreclosure Appraisals in Ada County
There are specific appraisal problems when it comes to a house in foreclosure or one that has gone back to the lender's possession.
When dealing with a house in foreclosure, it's important to know the difference between fair market worth and "quick disposition" value to know your potential charge-off liability. Metro Appraisals has the experience in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your timeline.
You need a company who has the training to handle the special dynamics of a foreclosure appraisal. Contact Metro Appraisals for a company you can count on.
Owners of houses in foreclosure may be uncooperative to allowing an inspection of the home, thus presenting unique challenges. They may have deserted the house already and/or neglected care of the property for quite some time - or unfortunately, caused damage to the house.
For real estate that has changed to bank owned, you likewise will be interested in an expeditious resolution . But you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any work performed, with the repairs necessary to make the property marketable at full market value comparable with similar houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the special circumstances of a bank owned house, as well as the unique information you will need -- competing listings, neighborhood trends, and the like. You can count on Metro Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today.