REO Appraisal in Los Angeles County
Homes in foreclosure and properties that have returned to the lender's ownership bring forth various appraisal challenges.
For a property in foreclosure, you need to recognize the gap between fair market value and "quick disposition" price to know your potential charge-off liability. All City Appraisal has the experience in both supplying snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your urgency.
All City Appraisal has the qualifications to work with the special dynamics of a foreclosure appraisal. Contact All City Appraisal for a company you can rely on.
Owners of houses in foreclosure, of course, can present particular challenges. They might be uncooperative to allowing an inspection of the home. They may have left the home already and/or neglected care of the house for quite some time - or gone as far as vandalized the home.
For real estate that has already returned to bank owned, you typically will want it off your hands as quickly as possible . However, you may want to know and examine three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work done to it, with the repairs needed to make the home marketable at full market value consistent with similar properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the special situation of an REO home, as well as the unique data you'll need -- competing listings, neighborhood trends, and the like. You can rely on All City Appraisal to handle the appraisal of your REO professionally and efficiently. Contact us today.