Call Andel Appraisals to discuss appraisals on Cook foreclosures

Andel Appraisals is experienced when it comes to the

Best Home Appraisers, bank owned properties in Arlington Heights, Illinois

There are particular appraisal problems involved in a house in foreclosure or one that has gone back to the institution's possession.


For a property in foreclosure, you definitely need to know the difference between market price and a "quick disposition" assessment to know your possible charge-off liability. The professionals at Andel Appraisals can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into consideration your time constraints.

You need a company with the training to handle the special dynamics of a foreclosure appraisal. For a company you can count on, contact Andel Appraisals.

Owners of properties in foreclosureunfortunately can present special challenges. For example, they might be unwilling to allow an inspection of the property. Often the houses have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll find a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.


You will be interested in a quick disposition if the home has gone back to REO. So you might want to know about and review three values: "as-is", "as repaired", and "quick sale". These correspond to:

  • The value of the house without any repairs performed
  • Possible value with the work necessary to make the home marketable at full market value - commensurate with competing houses in the area
  • Somewhere in between, with minor investment in repairs - to get rid of the home quickly, probably to someone who'd rather finish the job themselves
Again, we understand your urgency and the specific circumstances of a Real Estate Owned home, in addition to the special data you will need - competing listings, neighborhood trends, and the like. You can count on Andel Appraisals to handle the task of your bank owned property with expertise and professionalism. Contact us today.