SNS Appraisals is the company you should trust when you need appraisals for bank owned properties in Spokane CountyThere are unique appraisal problems for a property in foreclosure or one that has reverted to the lender's control.
When there is a house in foreclosure, you should know market value versus a "quick disposition" assessment to analyze your likely charge-off liability. SNS Appraisals has the experience in both furnishing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line.
Owners of property in foreclosure can present particular challenges. For example, they might be disinclined to allow the appraiser access to the house. If they left the property already, they could have not taken care of the home for some time - or even worse, ransacked the house.
For a house that has reverted to bank owned, you most likely will be going for a fast disposition. Regardless, you'll still want to consider three angles for figuring the value of the asset (or in some cases, liability):