Foreclosure and Real Estate Owned Appraisal in Los Angeles County
Houses in foreclosure and homes that have returned to the institution's control bring forth unique appraisal difficulties.
For a home in foreclosure, you need to understand the gap between the fair market and "quick disposition" price to know your possible charge-off liability. We can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your time constraints.
We have 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 properties in foreclosure, of course, can present particular challenges. They might be uncooperative to allowing an inspection of the home. If they deserted the property already, they could have ignored the care of the property for quite awhile - or even worse, damaged the home.
If your house has changed to Real Estate Owned, you will interested in a quick disposition. But you may want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs performed, with the repairs required to make the house marketable at full market value comparable with the other homes in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of an REO home, in addition to the special information you will need -- competing listings, market trends, and the like. You can count on All City Appraisal to take on the task of your bank owned property with expertise and professionalism. Contact us today.