Foreclosure and REO Appraisal in Kitsap County
There are various appraisal problems involved in a home in foreclosure or one that has reverted to the bank's possession.
When dealing with a house in foreclosure, you should differentiate the difference between fair market value and "quick disposition" worth to analyze your probable charge-off liability. At Sound Appraisal Group, Inc, we have the training in both supplying snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
Sound Appraisal Group, Inc has the expertise to work with the specific dynamics of a foreclosure appraisal. Contact Sound Appraisal Group, Inc for a company you can rely on.
Particular challenges may be present when dealing with owners of property in foreclosure. They might be opposed to allowing an inspection of the property. If they moved out of the property already, they might have ignored the care of the property for quite some time - or even worse, damaged the home.
If your house has already gone back to bank owned, you will interested in an expedited disposition. But you may want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the repairs required to make the house marketable at full market value corresponding with the other houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the unique situation of a bank owned property, in addition to the special data you'll need -- competing listings, neighborhood trends, and the like. You can rely on Sound Appraisal Group, Inc to handle the appraisal of your REO with expertise and professionalism. Contact us today.