Real Estate Owned and Foreclosure Appraisals in California.There are special appraisal difficulties for a home in foreclosure or one that has reverted to the bank's possession.
When there is a property in foreclosure, you need to know the difference between fair market price and "quick disposition" price to evaluate your probable charge-off liability.
At MyAppraisalSource.com, we have the training in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company who has the training to deal with the special dynamics of a foreclosure appraisal. Contact MyAppraisalSource.com for a company you can count on. Owners of homes in foreclosure, of course, can present particular challenges. They could be unwilling to allow an inspection of the property. If they deserted the home already, they may have overlooked the care of the house for some time - or unfortunately, damaged the house. If the home has gone back to bank owned, you will be interested in a speedy disposition. But you might want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any repairs performed, with the work needed to make the home marketable at full market value corresponding with other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your timeline and the specific situation of a Real Estate Owned home, in addition to the specific information you'll need -- competing listings, market trends, and so forth. You can bank on My Appraisal Source to take on the task of your REO property with expertise and professionalism. Contact us today. |