Foreclosure Appraisals in Orange County
There are unique appraisal challenges for a home in foreclosure or one that has returned to the bank's holding.
When dealing with a property in foreclosure, you should understand the difference between fair market price and "quick disposition" value to evaluate your possible charge-off liability. Appraisal-One has the training in both providing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your urgency.
Appraisal-One has the training to deal with the specific dynamics of a foreclosure appraisal. Contact Appraisal-One for a company you can count on.
Owners of homes in foreclosure, of course, can present specific challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the house already, they might have not taken care of the home for quite awhile - or even worse, damaged the home.
If your home has already reverted to REO, you will interested in an expedited disposition. However, you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any repairs performed, with the work necessary to make the home marketable at full market value consistent with the other homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves. Again, we understand your time line and the unique circumstances of a bank owned house, in addition to the special information you will need -- competing listings, market trends, and the like. You can bank on Appraisal-One to handle the appraisal of your REO with expertise and professionalism. Contact us today.