Foreclosure and REO AppraisalsReal Estate in foreclosure and homes that have reverted to the bank's holding bring forth special appraisal problems. When dealing with a house in foreclosure, it's important to differentiate the difference between fair market value and "quick disposition" worth to evaluate your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your urgency. We have experience working with unique dynamics of a foreclosure appraisal, contact Above the Notch Appraisals today. Owners of property in foreclosure, of course, can present particular challenges. They might be unwilling to allow an inspection of the property. They could have abandoned the home already and/or ignored the care of the house for quite awhile - or worse, vandalized the home. If your home has returned to bank owned, you will be interested in an expeditious disposition. However, you may want to know about and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work performed, with the work necessary to make the house marketable at full market value appropriate with competing real estate in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably to someone who'd rather finish the job themselves. Again, we understand your timeline and the specific situation of a Real Estate Owned house, in addition to the special information you will need -- competing listings, neighborhood trends, and the like. You can rely on Above the Notch Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today. |