Visser Appraisals, Ltd. is the company you should trust when it comes to foreclosures in West MichiganReal Estate in foreclosure and properties that have returned to the bank's control bring forth various appraisal problems.
You need to differentiate the meanings of "market value" and a "quick disposition" assessment to analyze your probable charge-off liability when dealing with a house in foreclosure. The professionals at Visser Appraisals, Ltd. can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into account your urgency.
Unique challenges can be present when dealing with owners of property in foreclosure. They could be opposed to allowing an inspection of the home. Often the properties have been vandalized, often by the residents themselves. Or, it's common to find nobody has occupied the house for months or the home neglected for extended periods of time.
For real estate that has returned to bank owned, you likewise will be seeking a speedy disposition. Regardless, you'll still want to consider three ways of looking at the value of the asset (or in some cases, liability):