Real Estate Owned Appraisal in Los Angeles County
There are specific appraisal challenges when it comes to a home in foreclosure or one that has reverted to the bank's possession.
When dealing with a house in foreclosure, it's important to understand the difference between fair market worth and "quick disposition" price to evaluate your possible charge-off liability. At WalshStreet Appraisals, we have the background in both supplying snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
The professionals at WalshStreet Appraisals have the experience to work with the unique dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can count on.
Owners of property in foreclosure, of course, can present specific challenges. They may be opposed to allowing an inspection of the house. Sometimes the houses show signs of vandalism, unfortunately by the former residents. Or, it's likely you'll find the residents have moved out or the home languishing in disrepair for long of time.
You'll be interested in a quick disposition if the house has returned to Real Estate Owned. So you may want to know and compare three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any repairs performed, with the repairs called for to make the property marketable at full market value appropriate with the other homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the specific situation of an REO house, as well as the special data you'll need -- competing listings, market trends, and the like. You can rely on WalshStreet Appraisals to handle the task of your bank owned property with expertise and professionalism. Contact us today.