Viable Appraisals, LLC is the company you should trust when it comes to bank owned properties in Annapolis, MarylandThere are various appraisal difficulties for a house in foreclosure or one that has reverted to the lender's holding.
For a home in foreclosure, you would be wise to recognize the gap between the market and a "quick disposition" price to know your probable charge-off liability. At Viable Appraisals, LLC, we have the training in both providing snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your urgency.
Occupants of property in foreclosure may be unwilling to allow an inspection of the house, thus presenting special challenges. Sometimes the homes have been ransacked, often at the hands of the former residents themselves. Or, it's likely you'll discover the previous owners have moved out or the home languishing in disrepair for extended periods of time.
If you're dealing with a house that has already reverted to REO, you will interested in a fast disposition. But you may want to know and analyze three values: as-is, as repaired, and "quick sale". These correspond to: