Real Estate Owned and Foreclosure Appraisal in Montgomery County
Houses in foreclosure and houses that have reverted to the bank's possession create specific appraisal difficulties.
You should recognize the difference between fair market value and "quick disposition" price to evaluate what losses you stand to have to endure when dealing with a house in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time line.
You need a company who has the training to work with the unique dynamics of a foreclosure appraisal. Contact Wilson & Associates for a company you can rely on.
Special challenges may be present when working with owners of homes in foreclosure. They might be opposed to allowing an inspection of the house. Sometimes the properties have been vandalized, unfortunately by the former residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long of time.
For real estate that has already returned to Real Estate Owned, you most likely will want to get rid of it quickly . But you might want to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any repairs done to it, with the work due to make the home marketable at full market value appropriate with competing real estate in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the special situation of an REO house, as well as the specific data you will need -- competing listings, neighborhood trends, and the like. You can rely on Wilson & Associates to handle the appraisal of your REO with expertise and professionalism. Contact us today.