REO and Foreclosure Appraisal in Caguas County
There are various appraisal difficulties when it comes to a house in foreclosure or one that has gone back to the lender's possession.
For a home in foreclosure, you need to understand the difference between the fair market price and "quick disposition" to know your possible charge-off liability. At Appraisal Advisors Group, we have the background in both presenting snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your timeline.
You need a company with the qualifications to work with the unique dynamics of a foreclosure appraisal. Contact Appraisal Advisors Group for a company you can count on.
Unique challenges might be present when working with owners of houses in foreclosure. They could be disinclined to allow an inspection of the house. Often the houses have been vandalized, often at the hands of the residents. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for extended periods of time.
If your property has gone back to REO, you will interested in a quick disposition. But you may want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the repairs needed to make the property marketable at full market value consistent with the other homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone who'd rather finish the job themselves. Again, we understand your timeline and the unique circumstances of a bank owned home, as well as the special data you will need -- competing listings, market trends, and so forth. You can bank on Appraisal Advisors Group to take on the task of your REO with expertise and professionalism. Contact us today.