REO Appraisals in Fairfax City County
Properties that have reverted to the bank's possession and homes in foreclosure present unique appraisal problems.
For a property in foreclosure, you may need to understand the gap between fair market and "quick disposition" to know your likely charge-off liability. Bruce W. Reyle & Company Real Estate Appraisers and Consultants has the experience in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your timeline.
We have the experience to deal with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Bruce W. Reyle & Company Real Estate Appraisers and Consultants.
Specific challenges can be present when dealing with owners of homes in foreclosure. They might be disinclined to allow an inspection of the house. Often the subjects have been vandalized, often at the hands of the former residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long of time.
For a property that has already reverted to REO, you most likely will want it off your hands as quickly as possible . However, you might want to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any repairs done to it, with the work necessary to make the home marketable at full market value comparable with similar real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your urgency and the specific circumstances of a bank owned house, as well as the unique information you'll need -- competing listings, neighborhood trends, and so forth. You can rely on Bruce W. Reyle & Company Real Estate Appraisers and Consultants to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.