Foreclosure/REO in Isanti, MN
REO Appraisal in Isanti County
There are special appraisal problems when it comes to a property in foreclosure or one that has gone back to the financial institution's control.
When dealing with a property in foreclosure, it's important to differentiate market value versus a "quick disposition" value to know your potential charge-off liability. Advent Appraisals has the background in both supplying snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your pressing needs.
We have the qualifications to work with the particular dynamics of a foreclosure appraisal. Contact Advent Appraisals for a company you can rely on.
Owners of homes in foreclosure, of course, can present specific challenges. For example, they may be combative when it comes to allowing us access to the house. They may have left the home already and/or neglected care of the property for quite some time - or in some cases vandalized the home.
If you're dealing with property that has gone back to REO, you will interested in an expedited disposition. However, you might want to know about and compare three values: as-is, as repaired, and "quick sale". These correspond to:
- The value of the property without any repairs performed
- Possible value with the repairs due to make the property marketable at full market value - consistent with similar houses in the area
- With minor investment in repairs - to sell the home quickly, most likely as a "fixer-upper"
Again, we understand your time line and the special circumstances of an REO property, as well as the specific data you'll need - competing listings, market trends, and so forth. You can count on Advent Appraisals to handle the appraisal of your bank owned property professionally and efficiently.
Contact us today.