Properties in foreclosure that have reverted back to the lender require knowledgeable Appraisers. For commercial property lenders may be involved with asset management that requires appraisals.
Midwest Appraisal has experience in both fair market value appraisals and mortgage lending for servicing clients, as well as "quick sale" forecasts.
Any property in foreclosure represents special challenges for any appraisal company. Some home owners may be unwilling to allow an inspection or may damage property before an inspection can occur. If a property is abandoned, the property may have some extraordinary damage from weather and neglect. Midwest Appraisal has experience in dealing with special circumstances of foreclosure appraisal. Do not hesitate to contact us if you require a foreclosure appraisal.
For property that has already reverted back to the real estate owner, you may be interested in a quick disposition of the property. You may want to know and compare the values: As-is, As Repaired and Quck Sale. These values represent the value of the property without any improvments to the property, improvements to the property, improvements required to make the property comparable with competing properties in the area, and an appraisal for bringing the property up to minimal standards with minimal investment, allowing you to sell the property quickly as a "Fixer-Upper"
Midwest Appraisal also provides appraisal review services.
- Financial Institutions - to satisfy Federal Reserve requirements
- Federal and state review boards for internal audit purposes
- Financial lenders - review of portfolio asset values in current economic climate
- Legal purposes - to determine compliance and competency issues