Foreclosure and Real Estate Owned Appraisal in Hampden County
There are special appraisal problems regarding a house in foreclosure or one that has reverted to the lender's ownership.
For a house in foreclosure, you should know the difference between fair market and "quick disposition" value to know your potential charge-off liability. Race Appraisal Services, LLC has the training in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your timeline.
You need a company with the expertise to handle the specific dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can rely on.
Owners of houses in foreclosure might be uncooperative to allowing an inspection of the house, thus presenting particular challenges. They could have moved out of the home already and/or neglected care of the property for awhile - or worse, vandalized the house.
For real estate that has returned to bank owned, you most likely will want to get rid of it quickly . But you may want to understand and compare three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any repairs done to it, with the work required to make the house marketable at full market value consistent with the other properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your timeline and the special circumstances of a Real Estate Owned house, as well as the special data you'll need -- competing listings, market trends, and so forth. You can rely on Race Appraisal Services, LLC to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.