Affordable Appraisals is the company you should trust when you need appraisals for bank owned properties in the Kansas City Metro AreaProperties that have reverted to the bank's ownership and homes in foreclosure create particular appraisal problems.
For a property in foreclosure, you need to understand the gap between the market value and a "quick disposition" assessment to know your probable charge-off liability. Affordable Appraisals has the experience in both producing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your urgency.
Specific challenges may be present when dealing with owners of houses in foreclosure. They may be unwilling to allow an inspection of the home. Sometimes the properties have been vandalized, often at the hands of the residents themselves. Or, it's common to find a house at a minimum abandoned or the home neglected for extended periods of time.
You will be interested in a quick disposition if the house has already returned to bank owned. So you need to know and examine three values: "as-is", "as repaired", and "quick sale". These correspond to: