REO and Foreclosure Appraisal in Howard County
Homes that have gone back to the bank's control and homes in foreclosure bring forth specific appraisal challenges.
When there is a property in foreclosure, you should understand the difference between fair market worth and "quick disposition" price to analyze your potential charge-off liability. At Astute Appraisals, Inc., we have the background in both supplying snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time line.
You need a company with the experience to deal with the special dynamics of a foreclosure appraisal. Contact Astute Appraisals, Inc. for a company you can rely on.
Owners of properties in foreclosure, of course, can present unique challenges. They may be disinclined to allow an inspection of the house. If they deserted the property already, they might have not taken care of the house for awhile - or worse, damaged the house.
For a property that has changed to bank owned, you most likely will be going for a quick disposition . However, you may want to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any repairs performed, with the work required to make the home marketable at full market value commensurate with similar homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your urgency and the specific circumstances of a Real Estate Owned house, as well as the unique data you'll need -- competing listings, neighborhood trends, and the like. You can rely on Astute Appraisals, Inc. to handle the task of your REO professionally and efficiently. Contact us today.