|
|
Real Estate Owned Appraisals in Orange County Real Estate in foreclosure and houses that have gone back to the institution's holding bring forth various appraisal difficulties.
It's vital to differentiate the meanings of "market value" and a "quick disposition" price to know what losses you stand to realize when dealing with a home in foreclosure. Appraisal-One has the experience in both furnishing snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your pressing needs.
Owners of homes in foreclosure, of course, can present specific challenges. They might be disinclined to allow us access to the house. They could have deserted the property already and/or neglected care of the home for quite some time - or in some cases vandalized the home.
For a home that has already returned to Real Estate Owned, you most likely will be interested in an expeditious resolution. In any case, you'll still want to consider three ways of looking at the value of the asset (or in some cases, liability):
- As Repaired. Possible market value with the work needed to make the property marketable at full market value - comparable with other homes in the neighborhood
- As-is. The market value of the house without any repairs done to it
- Quick sale. With minor investment in repairs - to get rid of the property quickly, seemingly to someone who'd prefer to finish the job themselves
Again, we understand your urgency and the specific circumstances of a Real Estate Owned home, in addition to the unique information you will need - competing listings, market trends, and so forth. You can rely on Appraisal-One to handle the appraisal of your REO professionally and efficiently. Contact us today.
|
|