Real Estate Owned and Foreclosure Appraisal in Cook CountyReal Estate in foreclosure and homes that have reverted to the institution's possession present specific appraisal problems. For a home in foreclosure, you should know the difference between fair market price and "quick disposition" price to know your probable charge-off liability. At Mannion Appraisals, we have the knowledge in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line. You need a company who has the experience to handle the unique dynamics of a foreclosure appraisal. For a company you can trust, contact Mannion Appraisals. Owners of houses in foreclosure, of course, can present unique challenges. They could be uncooperative to allowing an inspection of the property. Sometimes the houses have been ransacked, unfortunately by the former residents themselves. Or, it's likely you'll find the residents have moved out or the home languishing in disrepair for extended periods of time. If your house has gone back to Real Estate Owned, you will interested in a speedy disposition. However, you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work done to it, with the repairs necessary to make the home marketable at full market value appropriate with similar homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your timeline and the special situation of a bank owned property, as well as the special data you'll need -- competing listings, neighborhood trends, and the like. You can rely on Mannion Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today. |