MANDERFIELD APPRAISAL GROUP is the company you should trust when you need appraisals for bank owned properties in Alexandria City CountyThere are special appraisal problems regarding a home in foreclosure or one that has returned to the bank's possession.
When there is a property in foreclosure, it's important to recognize market value versus a "quick disposition" assessment to know your likely charge-off liability. At MANDERFIELD APPRAISAL GROUP, we have the experience in both presenting snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that factor in your time line.
Owners of properties in foreclosure, of course, can present specific challenges: They could be unwilling to allow an inspection of the home. Often the homes show signs of vandalism, unfortunately at the hands of the former residents themselves. Or, it's common to find nobody has occupied the house for months or the home neglected for extended periods of time.
For real estate that has already gone back to REO, you most likely will be going for a quick disposition. In any case, you'll still want to consider three angles for figuring the value of the subject property: