Blake Appraisal Corp. is experienced when it comes to bank owned properties in Oakland CountyHomes 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.
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:
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