REO and Foreclosure Appraisal in Ventura County
There are specific appraisal challenges regarding a home in foreclosure or one that has gone back to the lender's holding.
It's vital to recognize the difference between fair market price and "quick disposition" value to evaluate what losses you stand to sustain when dealing with a house in foreclosure. We can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time line.
The professionals at Choice Appraisals, Inc. have the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Choice Appraisals, Inc. for a company you can count on.
Unique challenges may be present when working with owners of homes in foreclosure. They could be unwilling to allow an inspection of the home. They might have deserted the house already and/or neglected care of the house for awhile - or worse, intentionally harmed the property.
For a house that has already returned to bank owned, you most likely will want to get rid of it quickly . However, you may want to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any work done to it, with the work required to make the house marketable at full market value commensurate with the other 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 a bank owned house, in addition to the special data you will need -- competing listings, market trends, and so forth. You can count on Choice Appraisals, Inc. to take on the task of your bank owned property with expertise and professionalism. Contact us today.