Foreclosure and REO Appraisals in Los Angeles County
Homes that have reverted to the bank's possession and properties in foreclosure create special appraisal problems.
It's vital to differentiate the difference between fair market value and "quick disposition" worth to evaluate what losses you could have to endure when dealing with a house in foreclosure. At WalshStreet Appraisals, we have the training in both producing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time constraints.
You need a company with the expertise to deal with the specific dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can count on.
Owners of homes in foreclosure may be uncooperative to allowing an inspection of the property, thus presenting specific challenges. They may have deserted the house already and/or overlooked the care of the home for quite some time - or even worse, caused damage to the home.
For a house that has returned to Real Estate Owned, you most likely will be going for a quick resolution . However, you may want to know and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work done to it, with the work called for to make the house marketable at full market value consistent with competing properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves. Again, we understand your time line and the specific circumstances of a Real Estate Owned property, in addition to the specific information you'll need -- competing listings, neighborhood trends, and the like. You can count on WalshStreet Appraisals to handle the appraisal of your REO professionally and efficiently. Contact us today.