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Foreclosure Appraisals in San Diego County
Houses that have reverted to the bank's ownership and houses in foreclosure create particular appraisal challenges.
You should differentiate the meanings of "market value" and a "quick disposition" price to evaluate your potential write-down liability when dealing with a home in foreclosure.
At Harold Canum's-Appraisal Resource, we have the experience in both furnishing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
Owners of homes in foreclosure, naturally, can present specific challenges. They may be disinclined to allow us access to the property.
They might have left the property already and/or neglected care of the property for quite awhile - or worse, intentionally harmed the home.
For a home that has already reverted to Real Estate Owned, you probably will want it off your hands as quickly as possible. In any case, you'll still want to consider three angles for determining the value of the real estate at hand:- As Repaired. Possible market value with the repairs required to make the home marketable at full market value - in accordance with other homes in the neighborhood
- As-is. The market value of the property without any work performed
- Quick sale. With minor investment in repairs - to get rid of the home quickly, probably to someone who'd rather finish the job themselves
Again, we understand your time line and the specific situation of an REO property, in addition to the special information you will need - competing listings, neighborhood trends, and so forth. You can count on Harold Canum's-Appraisal Resource to handle the appraisal of your REO with expertise and professionalism. Contact us today.
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