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Foreclosure and REO Appraisals in Chesterfield County
There are specific appraisal difficulties involved in a home in foreclosure or one that has gone back to the bank's control.
For a property in foreclosure, you would be wise to recognize the gap between the market price and a "quick disposition" value to know your likely charge-off liability.
At Keller Appraisal, we have the knowledge in both providing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your pressing needs.
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You need a company with the experience to handle the special dynamics of a foreclosure appraisal. Contact Keller Appraisal for a company you can . |
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Specific challenges might be present when dealing with owners of homes in foreclosure. They may be opposed to allowing an inspection of the property.
If they have abandoned the home already, they may have not taken care of the property for awhile - or unfortunately, caused damage to the property.
For real estate that has returned to REO, you probably will be going for an expeditious resolution. Regardless, you'll still want to consider three angles for looking at the value of the subject property:- As Repaired. Value with the repairs needed to make the house marketable at full market value - appropriate with competing houses in the neighborhood
- As-is. The market value of the property without any repairs performed
- Quick sale. With minor investment in repairs - to get rid of the home quickly, seemingly as a "fixer-upper"
Again, we understand your urgency and the specific circumstances of an REO home, as well as the unique data you'll need - competing listings, market trends, and so forth. You can bank on Keller Appraisal to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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