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Call Cindy Vandergoot to order valuations of Lake foreclosures

Real Estate Owned and Foreclosure Appraisals in Lake County

There are unique appraisal problems regarding a home in foreclosure or one that has reverted to the institution's control.

For a home in foreclosure, you would be wise to know the difference between market and a "quick disposition" to know your possible charge-off liability. The professionals at Vandergoot Appraisals can provide both snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your pressing needs.

You need a company who has the expertise to deal with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Vandergoot Appraisals.

Owners of houses in foreclosureunfortunately can present special challenges. For example, they could be disinclined to allow the appraiser access to the house. If they abandoned the home already, they might have overlooked the care of the home for quite awhile - or worse, caused damage to the house.

For a house that has changed to Real Estate Owned, you probably will be going for an expeditious disposition. In any case, you'll still want to consider three angles for looking at the value of the asset (or in some cases, liability):

  • As Repaired. Possible market value with the work necessary to make the home marketable at full market value - appropriate with similar houses in the neighborhood
  • As-is. The market value of the house without any work done to it
  • Quick sale. Somewhere in the middle, with minimal investment in repairs - to get rid of the property quickly, probably to someone who'd rather finish the job themselves
Again, we understand your urgency and the unique situation of a Real Estate Owned home, in addition to the special information you will need - competing listings, neighborhood trends, and the like. You can rely on Vandergoot Appraisals to handle the task of your REO with expertise and professionalism. Contact us today.