Scott Appraisal LLC is a company you can trust when you need appraisals for bank owned properties in MadisonThere are particular appraisal difficulties when we're talking about a property in foreclosure or one that has gone back to the lender's control. For a house in foreclosure, you should recognize the gap between the fair market worth and "quick disposition" value to know your likely charge-off liability. At Scott Appraisal LLC, we have the training in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time constraints. We have the training to work with the specific dynamics of a foreclosure appraisal. Contact Scott Appraisal LLC for a company you can count on. Special challenges can be present when working with owners of property in foreclosure. They may be opposed to allowing an inspection of the property. Sometimes the houses have been intentionally damaged, often at the hands of the residents. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for extended periods of time. For a property that has returned to bank owned, you typically will want to get rid of it quickly . However, you might want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work performed, with the repairs required to make the house marketable at full market value commensurate with competing homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the unique situation of a bank owned home, in addition to the unique data you will need -- competing listings, market trends, and so forth. You can count on Scott Appraisal LLC to handle the appraisal of your REO with expertise and professionalism. Contact us today. |