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Call LLI Appraisals when you need valuations pertaining to Cabarrus foreclosures

Foreclosure Appraisal in Cabarrus County

There are special appraisal challenges when we're talking about a property in foreclosure or one that has returned to the bank's holding.

For a house in foreclosure, you definitely need to understand the difference between fair market worth and a "quick disposition" value to know your probable charge-off liability. At LLI Appraisals, we have the knowledge in both producing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your pressing needs.

You need a company with the training to deal with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact LLI Appraisals.

Occupants of properties in foreclosure could be opposed to allowing an inspection of the property, thus presenting particular challenges. Often the houses have been vandalized, often by the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long periods of time.

For a home that has already reverted to bank owned, you probably will want to get rid of it quickly. In any case, you'll still want to consider three ways of determining the worth of the real estate at hand:

  • As Repaired. Value with the repairs due to make the property marketable at full market value - appropriate with similar houses in the area
  • As-is. The worth of the property without any work performed
  • Quick sale. Somewhere in the middle, with minor investment in repairs - to sell the home quickly, probably to someone who'd rather finish the job themselves
Again, we understand your time line and the special situation of a Real Estate Owned home, in addition to the special information you'll need - competing listings, neighborhood trends, and the like. You can bank on LLI Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today.