Real Estate Owned and Foreclosure Appraisal in Orange County
Houses that have reverted to the financial institution's control and properties in foreclosure bring forth specific appraisal challenges.
For a house in foreclosure, you should know the gap between fair market value and "quick disposition" to know your possible charge-off liability. At A.M. Appraisal, we have the background in both supplying snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency.
You need a company with the qualifications to deal with the special dynamics of a foreclosure appraisal. Contact A.M. Appraisal for a company you can count on.
Owners of dwellings in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting particular challenges. If they moved out of the house already, they could have not taken care of the house for awhile - or worse, ransacked the home.
You will be interested in a fast disposition if the house has already reverted to REO. So you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs performed, with the repairs required to make the property marketable at full market value consistent with similar real estate in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the specific situation of an REO property, as well as the special information you'll need -- competing listings, market trends, and so forth. You can rely on A.M. Appraisal to handle the appraisal of your REO with expertise and professionalism. Contact us today.