Race Appraisal Services, LLC is experienced when you need appraisals for bank owned properties in East Longmeadow
There are special appraisal problems when we're talking about a property in foreclosure or one that has reverted to the financial institution's ownership.
For a home in foreclosure, you might need to recognize the difference between the fair market value and "quick disposition" value to know your probable charge-off liability. Race Appraisal Services, LLC has the training in both providing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
The professionals at Race Appraisal Services, LLC have the qualifications to deal with the particular dynamics of a foreclosure appraisal. Contact Race Appraisal Services, LLC for a company you can trust.
Owners of houses in foreclosure, of course, can present special challenges. They might be opposed to allowing an inspection of the house. Often the homes have been vandalized, often by the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for extended periods of time.
For real estate that has changed to REO, you most likely will be going for an expeditious disposition . But you might want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work performed, with the repairs required to make the property marketable at full market value corresponding with similar properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the unique situation of an REO house, as well as the unique data you will need -- competing listings, neighborhood trends, and so forth. You can bank on Race Appraisal Services, LLC to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.