Real Estate Owned and Foreclosure Appraisal in Fairfax City County
There are various appraisal difficulties when it comes to a property in foreclosure or one that has gone back to the financial institution's holding.
When dealing with a home in foreclosure, you should understand the difference between fair market value and "quick disposition" worth to analyze your likely charge-off liability. At Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants, we have the experience in both providing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time line.
You need a company who has the experience to deal with the unique dynamics of a foreclosure appraisal. Contact Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants for a company you can trust.
Occupants of property in foreclosure may be uncooperative to allowing an inspection of the home, thus presenting special challenges. They could have abandoned the house already and/or neglected care of the home for a long time - or gone as far as caused damage to the property.
For a house that has changed to bank owned, you probably will be going for a speedy resolution . But you may want to know and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work performed, with the repairs necessary to make the property marketable at full market value corresponding with similar properties in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the special circumstances of a bank owned home, in addition to the specific data you will need -- competing listings, market trends, and the like. You can bank on Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants to take on the task of your bank owned property professionally and efficiently. Contact us today.