Real Estate Owned and Foreclosure Appraisals in Beaver County
Properties that have reverted to the financial institution's ownership and homes in foreclosure present specific appraisal difficulties.
For a home in foreclosure, you need to understand the gap between the fair market worth and "quick disposition" worth to know your likely charge-off liability. At Ed Cline Appraisals, we have the training in both supplying snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time constraints.
Ed Cline Appraisals has the training to work with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Ed Cline Appraisals.
Occupants of properties in foreclosure may be disinclined to allow an inspection of the property, thus presenting particular challenges. Often the homes have been intentionally damaged, unfortunately by the former residents. Or, it's common to find nobody has occupied the house for months or the home neglected for extended periods of time.
For a home that has already returned 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 represent the value of the property without any work performed, with the work necessary to make the house marketable at full market value commensurate with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your time line and the unique circumstances of an REO property, as well as the specific data you will need -- competing listings, neighborhood trends, and so forth. You can count on Ed Cline Appraisals to handle the task of your bank owned property with expertise and professionalism. Contact us today.