All State Appraisal Partners, Inc. is experienced when you need appraisals for bank owned properties in Mooresville, North CarolinaThere are specific appraisal problems when we're talking about a home in foreclosure or one that has returned to the financial institution's ownership.
For a house in foreclosure, you would be wise to understand the gap between market and a "quick disposition" assessment to know your probable charge-off liability. At All State Appraisal Partners, Inc., we have the training in both presenting snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that factor in your urgency.
Special challenges may be present when dealing with owners of property in foreclosure. They may be disinclined to allow an inspection of the house. If they have abandoned the house already, they may have neglected care of the property for quite awhile - or unfortunately, caused damage to the house.
For a property that has already returned to bank owned, you typically will want to get rid of it quickly. In any case, you'll still want to consider three angles for figuring the value of the subject property:
Home Status Report
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