REO Appraisals in Orange County
There are specific appraisal difficulties involved in a house in foreclosure or one that has reverted to the financial institution's holding.
When dealing with a house in foreclosure, you should differentiate the difference between fair market worth and "quick disposition" price to analyze your likely charge-off liability. Downtowne Appraisals / Mike's Appraisals has the training in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your timeline.
The professionals at Downtowne Appraisals / Mike's Appraisals have the experience to work with the specific dynamics of a foreclosure appraisal. Contact Downtowne Appraisals / Mike's Appraisals for a company you can rely on.
Occupants of dwellings in foreclosure may be opposed to allowing an inspection of the house, thus presenting specific challenges. They could have left the home already and/or overlooked the care of the property for quite some time - or even worse, intentionally harmed the home.
For real estate that has returned to Real Estate Owned, you most likely will want it off your hands as quickly as possible . However, you may want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work done to it, with the work called for to make the property marketable at full market value commensurate with similar homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the specific situation of an REO house, in addition to the unique information you will need -- competing listings, market trends, and the like. You can count on Downtowne Appraisals / Mike's Appraisals to handle the appraisal of your REO professionally and efficiently. Contact us today.