Foreclosure and REO Appraisals in Cook CountyHouses that have reverted to the financial institution's possession and homes in foreclosure present special appraisal difficulties. For a home in foreclosure, you may need to recognize the gap between fair market value and "quick disposition" value to know your possible charge-off liability. At JM Real Estate Service, we have the knowledge in both furnishing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your timeline. You need a company who has the experience to deal with the particular dynamics of a foreclosure appraisal. Contact JM Real Estate Service for a company you can rely on. Owners of properties in foreclosure, of course, can present special challenges. They might be uncooperative to allowing an inspection of the house. Sometimes the homes have been intentionally damaged, unfortunately at the hands of the residents. Or, it's likely you'll discover the residents have moved out or the home languishing in disrepair for extended periods of time. If your home has returned to Real Estate Owned, you will interested in a speedy disposition. However, you may want to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any repairs performed, with the work needed to make the property marketable at full market value corresponding with the other real estate in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the unique circumstances of an REO home, in addition to the special data you'll need -- competing listings, neighborhood trends, and so forth. You can rely on JM Real Estate Service to take on the task of your REO with expertise and professionalism. Contact us today. |