Key Appraisals is experienced when it comes to bank owned properties in Yonkers, New YorkProperties that have gone back to the institution's control and properties in foreclosure present special appraisal difficulties.
When dealing with a house in foreclosure, you need to know market value versus a "quick disposition" value to know your possible charge-off liability. At Key Appraisals, we have the knowledge in both presenting snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.
Owners of dwellings in foreclosure may be unwilling to allow an inspection of the house, thus presenting unique challenges. Sometimes the properties show signs of vandalism, unfortunately by the residents themselves. Or, it's likely you'll find the families have moved out or the home neglected for long periods of time.
You'll be interested in an expedited disposition if the house has gone back to REO. So you need to know and compare three values: "as-is", "as repaired", and "quick sale". These symbolize: