Foreclosure & REO Valuation ServicesThere are unique appraisal problems for a home in foreclosure or one that has returned to the financial institution's ownership.
For a home in foreclosure, our clients need to know the gap between the market price and a "quick disposition" value in order to determine their likely charge-off liability. We can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand the time constraints of asset managers.
Over the years, our appraisers have worked closely with distressed asset managers including the HUD Marketing & Management Contractors. Below is a partial list of The Coyle Group's past and present REO clients:
Owners of houses in foreclosure unfortunately can present special challenges. They might be unwilling to allow us access to the home. They could have deserted the property already and/or overlooked the care of the property for quite awhile - or even worse, intentionally harmed the home.
For a property that has returned to REO, you most likely will want to get rid of it quickly. In any case, you'll still want to consider three angles for looking at the value of the asset: