WalshStreet Appraisals is the company you should trust when it comes to bank owned properties in Los Angeles CountyThere are various appraisal difficulties involved in a property in foreclosure or one that has reverted to the financial institution's possession.
When there is a property in foreclosure, you should recognize market value versus a "quick disposition" assessment to analyze your likely charge-off liability. WalshStreet Appraisals has the training in both supplying snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time line.
Unique challenges can be present when working with owners of homes in foreclosure. They could be opposed to allowing an inspection of the home. If they moved out of the home already, they might have neglected care of the home for awhile - or even worse, caused damage to the home.
For a home that has already changed to bank owned, you probably will be interested in a quick resolution. However, you might want to understand and examine the concepts of "as-is", "as repaired", and "quick sale" values. These correspond to: