M & B Appraisals, LLC is the company you should trust when you need appraisals for bank owned properties in Columbia, MissouriHouses in foreclosure and homes that have gone back to the lender's possession bring forth unique appraisal challenges.
You need to ascertain the meanings of "market value" and a "quick disposition" assessment to analyze your probable charge-off liability when dealing with a house in foreclosure. At M & B Appraisals, LLC, we have the background in both presenting snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that consider your time line.
Unique challenges might be present when dealing with owners of property in foreclosure. They might be opposed to allowing an inspection of the house. Often the houses have been vandalized, unfortunately at the hands of the 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 a property that has already reverted to REO, you most likely will want to get rid of it quickly. In any case, you'll still want to consider three ways of determining the value of the asset: