Real Estate Owned AppraisalsHomes that have reverted to the bank's possession and properties in foreclosure create various appraisal challenges. You should differentiate the difference between fair market worth and "quick disposition" value to know your probable charge-off liability when dealing with a house in foreclosure. Professional Appraisals, Inc. has the knowledge in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line. The professionals at Professional Appraisals, Inc. have the training to deal with the specific dynamics of a foreclosure appraisal. Contact Professional Appraisals, Inc. for a company you can count on. Owners of dwellings in foreclosure could be uncooperative to allowing an inspection of the home, thus presenting specific challenges. Often the homes have been vandalized, often by the former residents themselves. Or, it's common to discover the previous owners have moved out or the home languishing in disrepair for long of time. If your home has reverted to REO, you will interested in a speedy disposition. But you might want to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work performed, with the repairs due to make the property marketable at full market value appropriate with similar properties in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the specific situation of an REO house, in addition to the specific information you'll need -- competing listings, neighborhood trends, and the like. You can rely on Professional Appraisals, Inc. to handle the appraisal of your bank owned property professionally and efficiently. Contact us today. |