Real Estate Owned and Foreclosure Appraisals in San Diego County
There are various appraisal difficulties involved in a home in foreclosure or one that has gone back to the institution's ownership.
When there is a home in foreclosure, you need to recognize market value versus a "quick disposition" assessment to analyze your probable charge-off liability.
Harold Canum's-Appraisal Resource has the background in both providing snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your pressing needs.
Occupants of properties in foreclosure may be unwilling to allow an inspection of the home, thus presenting particular challenges.
Often the houses have been vandalized, often by the residents themselves. Or, it's common to find nobody has lived in house for months or the home languishing in disrepair for long periods of time.
If you're dealing with property that has changed to REO, you will interested in an expedited disposition. However, you might want to know about and examine three values: as-is, as repaired, and "quick sale". These correspond to:
Again, we understand your timeline and the special situation of a Real Estate Owned home, as well as the unique information you'll need - competing listings, neighborhood trends, and so forth. You can bank on Harold Canum's-Appraisal Resource to take on the task of your bank owned property professionally and efficiently. Contact us today.
- The value of the home without any work done to it
- Possible value with the work called for to make the house marketable at full market value - commensurate with other properties in the neighborhood
- Somewhere in the middle, with minor investment in repairs - to sell the home quickly, probably as a "fixer-upper"