Foreclosure and REO Appraisals in Fairfax City County
Homes in foreclosure and homes that have returned to the financial institution's holding present specific appraisal difficulties.
When dealing with a home in foreclosure, you need to ascertain 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 background in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
You need a company with the training to handle the unique dynamics of a foreclosure appraisal. For a company you can trust, contact Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants.
Owners of properties in foreclosure, of course, can present special challenges. They may be unwilling to allow an inspection of the home. They may have abandoned the house already and/or ignored the care of the house for quite some time - or worse, vandalized the house.
If your property has changed to REO, you will interested in a fast disposition. But you might want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work performed, with the work due to make the home marketable at full market value consistent with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the special situation of a Real Estate Owned home, as well as the unique data you will need -- competing listings, neighborhood trends, and so forth. You can rely on Bruce W. Reyle Commercial and Residential Real Estate Appraisers & Consultants to handle the task of your bank owned property professionally and efficiently. Contact us today.