Appraisal Services and Solutions, LLC is experienced when you need appraisals for bank owned properties in Forrest CountyThere are specific appraisal difficulties when it comes to a property in foreclosure or one that has reverted to the lender's holding.
When dealing with a home in foreclosure, you need to differentiate market value versus a "quick disposition" value to know your possible charge-off liability. The professionals at Appraisal Services and Solutions, LLC can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your time constraints.
Owners of homes in foreclosure, of course, can present unique challenges. For example, they may be unwilling to allow an inspection of the property. They may have moved out of the property already and/or ignored the care of the house for some time - or worse, caused damage to the house.
For a property that has already returned to bank owned, you most likely will be going for a speedy disposition. Regardless, you'll still want to consider three angles for determining the value of the asset: