Twin City Appraisal Service is experienced when it comes to foreclosures in Lafayette, IndianaThere are particular appraisal challenges regarding a home in foreclosure or one that has reverted to the bank's ownership.For a home in foreclosure, you would be wise to recognize the gap between the market value and a "quick disposition" assessment to know your potential charge-off liability. Twin City Appraisal Service has the experience in both presenting snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your urgency.
Particular challenges can be present when dealing with owners of property in foreclosure. They may be disinclined to allow an inspection of the home. They may have abandoned the house already and/or overlooked the care of the property for some time - or even worse, vandalized the property. If you're dealing with property that has gone back to REO, you will interested in an expeditious disposition. However, you might want to understand and compare three values: as-is, as repaired, and "quick sale". These represent:
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