Fast Appraisals is experienced when you need appraisals for bank owned properties in Cuyahoga CountyHomes in foreclosure and homes that have reverted to the financial institution's ownership create particular appraisal problems.
For a house in foreclosure, you should recognize the gap between the market value and a "quick disposition" price to know your likely charge-off liability. We can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your time line.
Owners of houses in foreclosure could be opposed to allowing an inspection of the home, thus presenting particular challenges. If they deserted the property already, they could have neglected care of the property for awhile - or unfortunately, damaged the house.
For a home that has reverted to REO, you typically will want to get rid of it quickly. In any case, you'll still want to consider three ways of figuring the value of the real estate at hand: