Foreclosure and Real Estate Owned Appraisal in Los Angeles County
Properties in foreclosure and properties that have reverted to the bank's ownership create various appraisal challenges.
You need to understand the difference between fair market price and "quick disposition" value to evaluate what losses you stand to realize when dealing with a home in foreclosure. The professionals at All City Appraisal can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company who has the training to work with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact All City Appraisal.
Owners of in foreclosure may be disinclined to allow an inspection of the home, thus presenting particular challenges. If they deserted the property already, they may have overlooked the care of the house for quite awhile - or even worse, caused damage to the property.
For real estate that has already returned to REO, you most likely will be seeking a speedy disposition . However, you might want to understand and review three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any repairs done to it, with the repairs needed to make the home marketable at full market value commensurate with competing properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the specific circumstances of a Real Estate Owned home, in addition to the specific information you will need -- competing listings, market trends, and so forth. You can rely on All City Appraisal to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.