Foreclosure Appraisals in Randall County
Properties in foreclosure and houses that have returned to the financial institution's ownership present unique appraisal difficulties.
When there is a property in foreclosure, you should differentiate the difference between fair market price and "quick disposition" worth to analyze your potential charge-off liability. At Anderson Appraisal, LLC, we have the experience in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company with the qualifications to deal with the special dynamics of a foreclosure appraisal. For a company you can trust, contact Anderson Appraisal, LLC.
Owners of houses in foreclosure may be disinclined to allow an inspection of the house, thus presenting unique challenges. Often the subjects have been vandalized, unfortunately at the hands of the former residents. Or, it's likely you'll find a house at a minimum abandoned or the home languishing in disrepair for long of time.
You will be interested in a fast disposition if the property has already reverted to REO. So you might want to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the work necessary to make the property marketable at full market value appropriate with the other real estate in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves. Again, we understand your time line and the special situation of a Real Estate Owned property, in addition to the special data you will need -- competing listings, neighborhood trends, and so forth. You can rely on Anderson Appraisal, LLC to take on the task of your bank owned property with expertise and professionalism. Contact us today.