Nordquist Appraisal is the company you should trust when you need appraisals for bank owned properties in Allegheny CountyProperties that have gone back to the institution's ownership and homes in foreclosure present special appraisal challenges.
It's vital to ascertain the meanings of "market value" and a "quick disposition" price to evaluate your likely charge-off liability when dealing with a home in foreclosure. Nordquist Appraisal has the experience in both producing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
Particular challenges can be present when dealing with owners of property in foreclosure. They may be uncooperative to allowing an inspection of the property. Often the homes have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll discover the residents have moved out or the home languishing in disrepair for extended periods of time.
For real estate that has gone back to Real Estate Owned, you probably will be interested in an expedited disposition. Regardless, you'll still want to consider three ways of figuring the value of the real estate at hand: