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Call Property Services/Otter Tail Appraisals when you need valuations of Otter Tail foreclosures

Property Services/Otter Tail Appraisals is the company you should trust when it comes to bank owned properties in West Central Minnesota

Properties that have reverted to the institution's control and properties in foreclosure present special appraisal problems.

When dealing with a house in foreclosure, it's important to differentiate market value versus a "quick disposition" value to evaluate your probable charge-off liability. Property Services/Otter Tail Appraisals has the training in both furnishing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into account your time line.

The professionals at Property Services/Otter Tail Appraisals have the qualifications to handle the special dynamics of a foreclosure appraisal. Contact Property Services/Otter Tail Appraisals for a company you can trust.

Owners of homes in foreclosure may be uncooperative to allowing an inspection of the home, thus presenting particular challenges. They could have left the home already and/or ignored the care of the house for quite some time - or in some cases ransacked the property.

If you're dealing with property that has gone back to Real Estate Owned, you will interested in a fast disposition. However, you may want to understand and review three values: as-is, as repaired, and "quick sale". These represent:

  • The value of the home without any repairs performed
  • Value with the work required to make the home marketable at full market value - consistent with similar houses in the neighborhood
  • With minimal investment in repairs - to sell the home quickly, most likely to someone who'd prefer to finish the job themselves
Again, we understand your time line and the special circumstances of a bank owned house, as well as the unique information you will need - competing listings, market trends, and so forth. You can rely on Property Services/Otter Tail Appraisals to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.