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Foreclosure and Real Estate Owned Appraisal in Maricopa County
Homes that have reverted to the institution's possession and houses in foreclosure bring forth particular appraisal challenges.
When there is a home in foreclosure, it's important to ascertain market value versus a "quick disposition" price to know your probable charge-off liability.
At ASAP Appraisal Services, Inc., we have the training in both furnishing snapshots of market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your pressing needs.
Unique challenges can be present when working with owners of houses in foreclosure. They might be opposed to allowing an inspection of the house.
Often the houses have been intentionally damaged, unfortunately by the former residents. Or, it's common to discover a house at least abandoned or the home languishing in disrepair for extended periods of time.
You will be interested in a speedy disposition if the house has already returned to REO. So you might want to know about and analyze three values: "as-is", "as repaired", and "quick sale". These symbolize: - The value of the house without any repairs done to it
- Possible value with the work due to make the home marketable at full market value - consistent with similar houses in the area
- With minor investment in repairs - to offload the home quickly, possibly to someone who'd rather finish the job themselves
Again, we understand your time line and the unique situation of an REO house, as well as the unique data you will need - competing listings, neighborhood trends, and so forth. You can count on ASAP Appraisal Services, Inc. to take on the task of your bank owned property professionally and efficiently. Contact us today.
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