Elite Appraisal Center, LLC is experienced when you need appraisals for foreclosures in IllinoisThere 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.
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: