Foreclosure and REO Appraisal in Hampden County
Homes in foreclosure and properties that have reverted to the institution's possession bring forth various appraisal challenges.
For a home in foreclosure, you might need to understand the difference between fair market worth and "quick disposition" to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time line.
You need a company who has the qualifications to deal with the particular dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can count on.
Special challenges might be present when working with owners of property in foreclosure. They may be unwilling to allow an inspection of the home. Sometimes the houses have been intentionally damaged, often at the hands of the former residents themselves. Or, it's likely you'll find a house at a minimum abandoned or the home neglected for long of time.
If your house has already gone back to REO, you will interested in an expeditious disposition. But you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any repairs done to it, with the work called for to make the property marketable at full market value consistent with competing houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the special circumstances of a Real Estate Owned house, in addition to the special information you'll need -- competing listings, neighborhood trends, and the like. You can count on Race Appraisal Services, LLC to handle the task of your REO with expertise and professionalism. Contact us today.