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Call Elite Appraisal Center, LLC when you need valuations on Cook foreclosures

Elite Appraisal Center, LLC is experienced when you need appraisals for foreclosures in Illinois

There are various appraisal problems when it comes to a home in foreclosure or one that has reverted to the bank's possession.

When dealing with a house in foreclosure, you need to know market value versus a "quick disposition" price to evaluate your potential charge-off liability. The professionals at Elite Appraisal Center, LLC can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your pressing needs.

Elite Appraisal Center, LLC has the training to work with the specific dynamics of a foreclosure appraisal. Contact Elite Appraisal Center, LLC for a company you can trust.

Occupants of homes in foreclosure could be opposed to allowing an inspection of the home, thus presenting specific challenges. They could have deserted the home already and/or ignored the care of the house for quite awhile - or even worse, vandalized the property.

For a house that has already returned to Real Estate Owned, you typically will want to get rid of it quickly. Regardless, you'll still want to consider three ways of looking at the value of the real estate at hand:

  • As Repaired. Possible market value with the repairs needed to make the home marketable at full market value - commensurate with similar houses in the neighborhood
  • As-is. The value of the property without any repairs done to it
  • Quick sale. Somewhere in the middle, with minor investment in repairs - to offload the home quickly, most likely to someone inclined to finish the job themselves
Again, we understand your timeline and the unique situation of an REO house, in addition to the special data you will need - competing listings, neighborhood trends, and so forth. You can rely on Elite Appraisal Center, LLC to handle the appraisal of your REO professionally and efficiently. Contact us today.