Real Estate Owned and Foreclosure Appraisals in Sauk CountyProperties that have reverted to the financial institution's possession and houses in foreclosure present unique appraisal challenges.
When there is a home in foreclosure, it's important to understand market value versus a "quick disposition" value to evaluate your probable charge-off liability. At Greater Wisconsin Appraisal Management LLC, we have the background in both producing snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
Owners of homes in foreclosure could be uncooperative to allowing an inspection of the house, thus presenting special challenges. Sometimes the properties show signs of vandalism, unfortunately by the residents themselves. Or, it's likely you'll discover a house at least abandoned or the home neglected for extended periods of time.
If you're dealing with property that has already gone back to Real Estate Owned, you will interested in a speedy disposition. However, you may want to know and compare three values: as-is, as repaired, and "quick sale". These correspond to:
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