Foreclosure and Real Estate Owned Appraisal in Orange County
There are special appraisal challenges when we're talking about a property in foreclosure or one that has reverted to the institution's ownership.
For a property in foreclosure, you should recognize the gap between the fair market worth and "quick disposition" price to know your probable charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
We have the expertise to handle the unique dynamics of a foreclosure appraisal. Contact Appraisal-One for a company you can count on.
Owners of property in foreclosure, of course, can present special challenges. They may be opposed to allowing an inspection of the house. If they left the house already, they could have ignored the care of the house for quite awhile - or even worse, ransacked the property.
For real estate that has returned to bank owned, you probably will be seeking an expedited resolution . However, you might want to know and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work done to it, with the repairs called for to make the home marketable at full market value commensurate with competing houses in the neighborhood, and, somewhere in the middle, with minor 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 bank owned home, in addition to the special data you will need -- competing listings, neighborhood trends, and the like. You can rely on Appraisal-One to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.