Foreclosure and REO Appraisals in Los Angeles County
There are particular appraisal problems regarding a home in foreclosure or one that has returned to the bank's possession.
When there is a property in foreclosure, you need to know the difference between fair market price and "quick disposition" worth to know your potential charge-off liability. At WalshStreet Appraisals, we have the background in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your timeline.
You need a company who has the qualifications to handle the unique dynamics of a foreclosure appraisal. For a company you can trust, contact WalshStreet Appraisals.
Owners of property in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting specific challenges. If they abandoned the home already, they might have not taken care of the home for awhile - or worse, caused damage to the house.
For real estate that has already changed to bank owned, you typically will want to get rid of it quickly . But you might want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any repairs performed, with the work necessary to make the house marketable at full market value comparable with similar homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the specific circumstances of a bank owned home, in addition to the specific information you'll need -- competing listings, neighborhood trends, and the like. You can rely on WalshStreet Appraisals to handle the appraisal of your REO professionally and efficiently. Contact us today.