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Blake Appraisal Corp. is experienced when it comes to bank owned properties in Oakland County Homes that have returned to the bank's ownership and properties in foreclosure present unique appraisal problems.
For a property in foreclosure, you need to understand the gap between market price and a "quick disposition" value to know your probable charge-off liability. We can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your time constraints.
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You need a company who has the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Blake Appraisal Corp. for a company you can trust. |
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Owners of properties in foreclosure unfortunately can present unique challenges. They may be unwilling to allow us access to the property. If they abandoned the property already, they might have overlooked the care of the house for a long time - or even worse, ransacked the house.
For real estate that has reverted to Real Estate Owned, you probably will want it off your hands as quickly as possible. Regardless, you'll still want to consider three ways of determining the value of the real estate at hand:
- As Repaired. Possible market value with the work due to make the home marketable at full market value - consistent with other homes in the neighborhood
- As-is. The market value of the house without any work performed
- Quick sale. With minor investment in repairs - to sell the property quickly, possibly as a "fixer-upper"
Again, we understand your urgency and the unique situation of a Real Estate Owned property, in addition to the unique data you will need - competing listings, market trends, and so forth. You can count on Blake Appraisal Corp. to take on the appraisal of your REO with expertise and professionalism. Contact us today.
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