Race Appraisal Services, LLC is experienced when it comes to bank owned properties in East Longmeadow
There are unique appraisal problems regarding a house in foreclosure or one that has returned to the financial institution's ownership.
For a property in foreclosure, you should understand the gap between fair market price and "quick disposition" value to know your probable charge-off liability. At Race Appraisal Services, LLC, we have the background in both producing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your urgency.
We have the expertise to deal with the particular dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can count on.
Owners of homes in foreclosure, of course, can present particular challenges. They might be disinclined to allow an inspection of the property. They could have left the property already and/or ignored the care of the home for quite some time - or gone as far as caused damage to the house.
You will be interested in a quick disposition if the home has gone back to Real Estate Owned. So you need to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any repairs performed, with the work needed to make the home marketable at full market value corresponding with the other properties in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the special circumstances of a bank owned property, as well as the specific information you will need -- competing listings, neighborhood trends, and so forth. You can bank on Race Appraisal Services, LLC to handle the appraisal of your REO professionally and efficiently. Contact us today.