Real Estate Owned and Foreclosure Appraisal in Orange County
There are unique appraisal challenges regarding a house in foreclosure or one that has returned to the bank's possession.
When dealing with a home in foreclosure, you should understand the difference between fair market price and "quick disposition" price to know your likely charge-off liability. Appraisal-One has the training in both producing snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time line.
Appraisal-One has the experience to handle the unique dynamics of a foreclosure appraisal. Contact Appraisal-One for a company you can count on.
Special challenges might be present when working with owners of properties in foreclosure. They may be disinclined to allow an inspection of the house. If they deserted the house already, they could have ignored the care of the house for quite awhile - or unfortunately, ransacked the house.
You will be interested in an expeditious disposition if the property has changed to REO. So you might want to know and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs done to it, with the work called for to make the property marketable at full market value corresponding with the other real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned house, as well as the specific data you will need -- competing listings, neighborhood trends, and so forth. You can count on Appraisal-One to handle the appraisal of your REO professionally and efficiently. Contact us today.