Harper & Strickland, Inc. is the company you should trust when you need appraisals for bank owned properties in Fairview, TexasThere are special appraisal challenges regarding a home in foreclosure or one that has gone back to the financial institution's holding.
When dealing with a home in foreclosure, you need to know market value versus a "quick disposition" price to evaluate your probable charge-off liability. The professionals at Harper & Strickland, Inc. can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your time constraints.
Specific challenges might be present when working with owners of houses in foreclosure. They could be unwilling to allow an inspection of the house. They could have deserted the property already and/or neglected care of the house for awhile - or in some cases caused damage to the house.
For a property that has already returned to Real Estate Owned, you most likely will be interested in a speedy disposition. But you might want to know about and examine the definitions of "as-is", "as repaired", and "quick sale" values. These symbolize: