REO and Foreclosure Appraisal in Los Angeles County
Homes in foreclosure and houses that have reverted to the lender's holding bring forth specific appraisal challenges.
You should understand the difference between fair market value and "quick disposition" value to know your possible charge-off liability when dealing with a house in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time constraints.
The professionals at WalshStreet Appraisals have the training to work with the specific dynamics of a foreclosure appraisal. For a company you can trust, contact WalshStreet Appraisals.
Particular challenges may be present when working with owners of homes in foreclosure. They could be unwilling to allow an inspection of the property. Often the properties show signs of vandalism, often at the hands of the residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for extended periods of time.
If your property has returned to Real Estate Owned, you will interested in an expeditious disposition. But you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any repairs done to it, with the work due to make the home marketable at full market value consistent with the other houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your time line and the unique circumstances of a bank owned property, as well as the specific data you will need -- competing listings, market trends, and the like. You can bank on WalshStreet Appraisals to take on the appraisal of your REO with expertise and professionalism. Contact us today.