Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants is experienced when it comes to foreclosures in Fairfax
Homes in foreclosure and properties that have returned to the financial institution's possession create various appraisal difficulties.
For a house in foreclosure, you may need to know the gap between fair market price and "quick disposition" worth to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time line.
We have the expertise to deal with the specific dynamics of a foreclosure appraisal. Contact Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants for a company you can count on.
Particular challenges can be present when working with owners of properties in foreclosure. They may be disinclined to allow an inspection of the property. Sometimes the properties show signs of vandalism, often at the hands of the former residents themselves. Or, it's likely you'll find the previous owners have moved out or the home neglected for long of time.
You'll be interested in a fast disposition if the home has already gone back to Real Estate Owned. So you need to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs done to it, with the work called for to make the property marketable at full market value consistent with competing houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a bank owned home, as well as the specific information you will need -- competing listings, neighborhood trends, and the like. You can bank on Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.