REO and Foreclosure Appraisals in Northern Illinios

When dealing with a property in foreclosure, it's important to recognize market value versus a "quick disposition" value to evaluate your possible charge-off liability. Zim Appraisals has the background in both furnishing snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your time line.

	The professionals at Zim Appraisals have the expertise to deal with the specific dynamics of a foreclosure appraisal. Contact Zim Appraisals for a company you can .

Occupants of homes in foreclosure could be unwilling to allow an inspection of the property, thus presenting unique challenges. Often the houses have been ransacked, unfortunately by the residents themselves. Or, it's common to find nobody has lived in house for months or the home languishing in disrepair for extended periods of time.

For real estate that has already gone back to bank owned, you typically will want to get rid of it quickly. In any case, you'll still want to consider three ways of looking at the value of the real estate at hand:

• As Repaired. Value with the repairs needed to make the house marketable at full market value - consistent with similar properties in the area
• As-is. The value of the house without any repairs performed
• Quick sale. Somewhere in between, with minor investment in repairs - to get rid of the property quickly, likely as a "fixer-upper"