REO Appraisals in Los Angeles County
There are specific appraisal difficulties when we're talking about a home in foreclosure or one that has gone back to the bank's holding.
For a house in foreclosure, you need to recognize the gap between fair market worth and "quick disposition" price to know your potential charge-off liability. At WalshStreet Appraisals, 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.
We have the experience to handle the unique dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can rely on.
Special challenges might be present when working with owners of homes in foreclosure. They might be disinclined to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the property for quite some time - or worse, caused damage to the house.
If your house has changed to REO, you will interested in a fast disposition. However, you may want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs performed, with the repairs necessary to make the home marketable at full market value consistent with competing properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the unique situation of an REO house, as well as the unique information you will need -- competing listings, neighborhood trends, and the like. You can rely on WalshStreet Appraisals to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.