Foreclosure and REO Appraisal in Hampden County
Homes that have returned to the financial institution's ownership and homes in foreclosure bring forth special appraisal problems.
When dealing with a property in foreclosure, you should know the difference between fair market value and "quick disposition" price to analyze your probable charge-off liability. At Race Appraisal Services, LLC, we have the background in both supplying snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your timeline.
Race Appraisal Services, LLC has the training to work with the special dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can trust.
Owners of property in foreclosure, of course, can present special challenges. They could be disinclined to allow an inspection of the property. They may have left the property already and/or ignored the care of the house for some time - or unfortunately, damaged the property.
For a home that has already returned to REO, you probably will be seeking a quick disposition . However, you may want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work performed, with the repairs needed to make the home marketable at full market value commensurate with similar houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the specific circumstances of a Real Estate Owned house, in addition to the unique data you'll need -- competing listings, neighborhood trends, and the like. You can count on Race Appraisal Services, LLC to take on the appraisal of your REO professionally and efficiently. Contact us today.