Meade & Associates is the company you should trust when it comes to bank owned properties in Boone CountyThere are special appraisal problems when we're talking about a property in foreclosure or one that has returned to the lender's control.
For a house in foreclosure, you would be wise to know the difference between market price and a "quick disposition" value to know your potential charge-off liability. Meade & Associates has the knowledge in both presenting snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your pressing needs.
Specific challenges can be present when dealing with owners of properties in foreclosure. They may be uncooperative to allowing an inspection of the home. Sometimes the houses have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's common to find nobody has lived in house for months or the home languishing in disrepair for long periods of time.
For real estate that has returned to REO, you probably will want to get rid of it quickly. In any case, you'll still want to consider three angles for figuring the value of the subject property: