Foreclosure and REO AppraisalsThere are particular appraisal difficulties when it comes to a home in foreclosure or one that has reverted to the bank's possession. It's important to recognize the difference between fair market value and "quick disposition" price to evaluate what losses you could realize when dealing with a house in foreclosure. At 4Loines Real Estate Services, we have the knowledge in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your timeline. You need a company with the training to work with the unique dynamics of a foreclosure appraisal. Contact 4Loines Real Estate Services for a company you can rely on. Occupants of dwellings in foreclosure may be disinclined to allow an inspection of the home, thus presenting unique challenges. Sometimes the properties show signs of vandalism, unfortunately at the hands of the former residents. Or, it's likely you'll find the previous owners have moved out or the home neglected for long of time. You will be interested in an expedited disposition if the house has already changed to REO. So you need to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work done to it, with the work required to make the home marketable at full market value comparable with the other properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the special circumstances of a bank owned house, in addition to the unique information you'll need -- competing listings, neighborhood trends, and the like. You can bank on 4Loines Real Estate Services to handle the task of your REO professionally and efficiently. Contact us today. |