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Appraisal-One is experienced when it comes to bank owned properties in Orange County
There are special appraisal problems regarding a property in foreclosure or one that has returned to the lender's possession.
You need to ascertain the meanings of "market value" and a "quick disposition" assessment to analyze what losses you could realize when dealing with a home in foreclosure.
Appraisal-One has the knowledge in both presenting snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your time line.
Owners of properties in foreclosure, naturally, can present special challenges: They may be disinclined to allow an inspection of the home.
If they moved out of the property already, they may have neglected care of the house for awhile - or worse, caused damage to the home.
For a property that has already changed to REO, you likewise will be seeking a quick disposition. In any case, you'll still want to consider three angles for looking at the value of the real estate at hand:- As Repaired. Possible market value with the repairs due to make the house marketable at full market value - appropriate with similar homes in the neighborhood
- As-is. The value of the house without any work performed
- Quick sale. With minimal investment in repairs - to offload the property quickly, likely as a "fixer-upper"
Again, we understand your urgency and the unique situation of a Real Estate Owned property, as well as the unique information you'll need - competing listings, market trends, and the like. You can count on Appraisal-One to handle the task of your REO professionally and efficiently. Contact us today.
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