WalshStreet Appraisals is experienced when you need appraisals for foreclosures in Los Angeles
There are various appraisal problems when we're talking about a house in foreclosure or one that has gone back to the financial institution's holding.
You need to understand the difference between fair market price and "quick disposition" value to evaluate what losses you might have to endure when dealing with a property in foreclosure. We can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time line.
You need a company who has the expertise to handle the specific dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can rely on.
Special challenges may be present when working with owners of properties in foreclosure. They could be disinclined to allow an inspection of the house. Sometimes the properties have been vandalized, unfortunately by the residents themselves. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for long of time.
You will be interested in an expedited disposition if the property has already gone back to Real Estate Owned. So you need to know and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work done to it, with the work required to make the property marketable at full market value consistent with the other homes in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your time line and the unique situation of an REO property, in addition to the unique data you'll need -- competing listings, market trends, and the like. You can rely on WalshStreet Appraisals to take on the task of your bank owned property with expertise and professionalism. Contact us today.