J.S. Appraisals, Inc. is the company you should trust when you need appraisals for foreclosures in Dupage CountyThere are unique appraisal challenges when it comes to a home in foreclosure or one that has reverted to the institution's control.
You need to differentiate the meanings of "market value" and a "quick disposition" value to analyze what losses you could realize when dealing with a house in foreclosure. The professionals at J.S. Appraisals, Inc. can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your urgency.
Owners of property in foreclosure may be opposed to allowing an inspection of the property, thus presenting specific challenges. Often the properties have been vandalized, unfortunately by the residents. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for long periods of time.
For real estate that has already reverted to Real Estate Owned, you likewise will be seeking a quick disposition. Regardless, you'll still want to consider three ways of figuring the value of the asset (or in some cases, liability):