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Foreclosure and REO Appraisal in Jefferson County
Homes that have returned to the financial institution's control and homes in foreclosure bring forth special appraisal challenges.
When there is a property in foreclosure, you should know market value versus a "quick disposition" price to know your possible charge-off liability.
At Appraisers Now, Inc., we have the experience in both furnishing snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that consider your time constraints.
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We have the qualifications to deal with the special dynamics of a foreclosure appraisal. Contact Appraisers Now, Inc. for a company you can rely on. |
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Owners of houses in foreclosure can present particular challenges: They may be unwilling to allow an inspection of the house.
They could have moved out of the house already and/or overlooked the care of the home for some time - or even worse, damaged the property.
You'll be interested in an expeditious disposition if the property has already returned to REO. So you need to know about and review three values: "as-is", "as repaired", and "quick sale". These represent: - The value of the home without any repairs done to it
- Value with the work required to make the house marketable at full market value - comparable with other properties in the area
- Somewhere in between, with minimal investment in repairs - to sell the property quickly, possibly to someone inclined to finish the job themselves
Again, we understand your time line and the special situation of a bank owned property, in addition to the specific data you'll need - competing listings, neighborhood trends, and so forth. You can count on Appraisers Now, Inc. to take on the task of your REO professionally and efficiently. Contact us today.
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