Pinnacle Appraisals is experienced when it comes to bank owned properties in Knox CountyThere are special appraisal problems involved in a property in foreclosure or one that has reverted to the institution's control.
When there is a home in foreclosure, it's important to ascertain fair market price versus "quick disposition" price to know your possible charge-off liability. Pinnacle Appraisals has the experience in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your pressing needs.
Owners of property in foreclosure, naturally, can present specific challenges. For example, they might be unwilling to allow an inspection of the property. Often the houses show signs of vandalism, unfortunately by the residents. Or, it's common to find the residents have moved out or the home languishing in disrepair for long periods of time.
If you're dealing with home that has returned to bank owned, you will interested in an expedited disposition. But you might want to know and compare three values: as-is, as repaired, and "quick sale". These symbolize: