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Foreclosure Appraisals in Los Angeles County
Properties in foreclosure and properties that have reverted to the bank's possession create specific appraisal challenges.
When there is a home in foreclosure, you should know market value versus a "quick disposition" assessment to evaluate your possible charge-off liability.
At WalshStreet Inc., we have the experience in both producing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that factor in your timeline.
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We have the experience to deal with the special dynamics of a foreclosure appraisal. Contact WalshStreet Inc. for a company you can count on. |
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Owners of homes in foreclosure, of course, can present particular challenges: For example, they could be unwilling to allow us access to the property.
Often the homes show signs of vandalism, often by the residents themselves. Or, it's likely you'll find nobody has lived in house for months or the home languishing in disrepair for extended periods of time.
For a house that has already returned to Real Estate Owned, you most likely will want to get rid of it quickly. In any case, you'll still want to consider three ways of determining the value of the real estate at hand:- As Repaired. Value with the work due to make the house marketable at full market value - comparable with competing homes in the area
- As-is. The value of the house without any repairs done to it
- Quick sale. With minimal investment in repairs - to offload the home quickly, probably to someone inclined to finish the job themselves
Again, we understand your time line and the unique circumstances of a bank owned house, as well as the specific data you will need - competing listings, market trends, and the like. You can count on WalshStreet Inc. to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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