Foreclosure and Real Estate Owned Appraisal in Los Angeles County
Properties that have gone back to the bank's ownership and homes in foreclosure create special appraisal challenges.
It's important to recognize the difference between fair market value and "quick disposition" price to evaluate your potential write-down liability when dealing with a house in foreclosure. At All City Appraisal, we have the background in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
You need a company who has the training to work with the specific dynamics of a foreclosure appraisal. Contact All City Appraisal for a company you can count on.
Particular challenges might be present when working with owners of property in foreclosure. They may be uncooperative to allowing an inspection of the home. Sometimes the subjects have been vandalized, unfortunately by the residents. Or, it's common to discover a house at a minimum abandoned or the home neglected for extended periods of time.
You will be interested in a speedy disposition if the property has already reverted to bank owned. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any repairs done to it, with the work due to make the house marketable at full market value appropriate with competing homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the unique situation of a bank owned house, as well as the special data you'll need -- competing listings, market trends, and the like. You can count on All City Appraisal to handle the task of your REO professionally and efficiently. Contact us today.