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REO and Foreclosure Appraisal in Orange County Houses in foreclosure and homes that have returned to the institution's ownership present special appraisal problems.
You should recognize the meanings of "market value" and a "quick disposition" assessment to evaluate what losses you might realize when dealing with a home in foreclosure. Appraisal People has the experience in both supplying snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your pressing needs.
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You need a company who has the expertise to deal with the unique dynamics of a foreclosure appraisal. Contact Appraisal People for a company you can trust. |
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Special challenges can be present when dealing with owners of homes in foreclosure. They may be unwilling to allow an inspection of the home. Often the homes have been intentionally damaged, often by the residents themselves. Or, it's common to find the residents have moved out or the home languishing in disrepair for long periods of time.
For a property that has already changed to Real Estate Owned, you typically will want to get rid of it quickly. However, you might want to know and examine three values - "as-is", "as repaired", and "quick sale". These correspond to:
- The value of the house without any repairs performed
- Possible value with the work necessary to make the home marketable at full market value - appropriate with other real estate in the neighborhood
- With minimal investment in repairs - to offload the property quickly, possibly to someone inclined to finish the job themselves
Again, we understand your time line and the special circumstances of a bank owned home, as well as the special data you will need - competing listings, market trends, and the like. You can rely on Appraisal People to take on the task of your bank owned property with expertise and professionalism. Contact us today.
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