Real Estate Owned Appraisal in Hampden County
There are particular appraisal challenges when we're talking about a house in foreclosure or one that has reverted to the institution's control.
For a property in foreclosure, you might need to recognize the difference between the fair market worth and "quick disposition" worth to know your possible charge-off liability. Race Appraisal Services, LLC has the experience in both supplying snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time constraints.
The professionals at Race Appraisal Services, LLC have the expertise to work with the special dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can count on.
Owners of houses in foreclosure, of course, can present specific challenges. They could be disinclined to allow an inspection of the property. Often the houses show signs of vandalism, often at the hands of the former residents. Or, it's common to find nobody has occupied the house for months or the home neglected for long of time.
If your house has changed to bank owned, you will interested in a speedy disposition. However, you may want to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the home without any repairs done to it, with the repairs called for to make the property marketable at full market value appropriate with competing houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a Real Estate Owned property, in addition to the special information you'll need -- competing listings, market trends, and the like. You can bank on Race Appraisal Services, LLC to handle the task of your REO professionally and efficiently. Contact us today.