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Boivin Appraisals, Inc. is experienced when it comes to bank owned properties in Dupage County Homes in foreclosure and houses that have gone back to the institution's holding create special appraisal difficulties.
For a property in foreclosure, you should know the difference between the market and a "quick disposition" assessment to know your possible charge-off liability. At Boivin Appraisals, Inc., we have the training in both producing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that consider your urgency.
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You need a company who has the training to work with the unique dynamics of a foreclosure appraisal. Contact Boivin Appraisals, Inc. for a company you can trust. |
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Specific challenges can be present when dealing with owners of properties in foreclosure. They may be opposed to allowing an inspection of the home. Often the subjects have been ransacked, unfortunately at the hands of the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home neglected for long periods of time.
For real estate that has reverted to bank owned, you most likely will want it off your hands as quickly as possible. But you might want to know and analyze the meanings of "as-is", "as repaired", and "quick sale" values. These represent:
- The value of the property without any repairs done to it
- Value with the repairs necessary to make the property marketable at full market value - comparable with other real estate in the area
- With minimal investment in repairs - to get rid of the property quickly, most likely as a "fixer-upper"
Again, we understand your timeline and the unique circumstances of a Real Estate Owned property, in addition to the special data you'll need - competing listings, market trends, and the like. You can bank on Boivin Appraisals, Inc. to take on the task of your REO professionally and efficiently. Contact us today.
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