Foreclosure and Real Estate Owned Appraisal in Fairfax City County
Homes that have gone back to the bank's possession and homes in foreclosure bring forth unique appraisal problems.
For a house in foreclosure, you need to understand the difference between the fair market worth and "quick disposition" worth to know your possible charge-off liability. We can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your time constraints.
Bruce W. Reyle & Company Real Estate Appraisers and Consultants has the qualifications to handle the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Bruce W. Reyle & Company Real Estate Appraisers and Consultants.
Specific challenges might be present when working with owners of houses in foreclosure. They could be unwilling to allow an inspection of the property. They could have moved out of the property already and/or overlooked the care of the home for some time - or worse, vandalized the property.
You will be interested in a fast disposition if the home has reverted to REO. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work done to it, with the repairs due to make the home marketable at full market value consistent with competing homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the unique situation of a Real Estate Owned property, in addition to the unique information you'll need -- competing listings, neighborhood trends, and so forth. You can count on Bruce W. Reyle & Company Real Estate Appraisers and Consultants to take on the task of your bank owned property professionally and efficiently. Contact us today.