First Choice Appraisal Services, Inc. is experienced when it comes to bank owned properties in Lake Worth, FloridaHouses that have returned to the institution's control and homes in foreclosure create various appraisal problems.
For a house in foreclosure, you would be wise to understand the gap between market and a "quick disposition" to know your likely charge-off liability. At First Choice Appraisal Services, Inc., we have the training in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
Occupants of houses in foreclosure might be opposed to allowing an inspection of the house, thus presenting unique challenges. Sometimes the subjects have been ransacked, often at the hands of the former residents. Or, it's likely you'll discover nobody has lived in house for months or the home languishing in disrepair for long periods of time.
For a home that has changed to bank owned, you likewise will be interested in a fast disposition. Regardless, you'll still want to consider three ways of figuring the value of the subject property: