REO Appraisals in Potter County
Properties that have reverted to the financial institution's ownership and houses in foreclosure create particular appraisal challenges.
You should understand the difference between fair market worth and "quick disposition" price to know your potential charge-off liability when dealing with a house in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your timeline.
You need a company with the expertise to handle the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Anderson Appraisal, LLC.
Owners of houses in foreclosure, of course, can present particular challenges. They could be disinclined to allow an inspection of the home. They may have deserted the house already and/or ignored the care of the property for awhile - or even worse, ransacked the home.
If your home has already changed to bank owned, you will interested in a fast disposition. But you may want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work done to it, with the work due to make the property marketable at full market value commensurate with similar properties in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the special situation of an REO home, in addition to the special information you will need -- competing listings, market trends, and so forth. You can rely on Anderson Appraisal, LLC to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.