Foreclosure and REO Appraisal in Hampden County
There are specific appraisal problems when we're talking about a house in foreclosure or one that has gone back to the financial institution's holding.
For a house in foreclosure, you might need to understand the gap between the fair market and "quick disposition" to know your possible charge-off liability. The professionals at Race Appraisal Services, LLC can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your urgency.
Race Appraisal Services, LLC has the training to handle the particular dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can count on.
Owners of properties in foreclosure, of course, can present unique challenges. They may be disinclined to allow an inspection of the property. Often the properties have been intentionally damaged, unfortunately by the residents. Or, it's common to find a house at least abandoned or the home neglected for long of time.
If your home has returned to bank owned, you will interested in an expedited disposition. However, you might want to know about and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work done to it, with the repairs due to make the home marketable at full market value corresponding with competing houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your urgency and the unique situation of a bank owned house, in addition to the special information you'll need -- competing listings, market trends, and so forth. You can bank on Race Appraisal Services, LLC to handle the task of your REO professionally and efficiently. Contact us today.