Real Estate Owned and Foreclosure Appraisals in Los Angeles County
There are special appraisal problems regarding a house in foreclosure or one that has returned to the financial institution's ownership.
For a house in foreclosure, you should know the gap between the market price and a "quick disposition" value to know your probable charge-off liability.
We can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your time constraints.
The professionals at WalshStreet Appraisals have the qualifications to work with the specific dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can count on.
Special challenges can be present when working with owners of homes in foreclosure. They may be disinclined to allow an inspection of the home.
They may have abandoned the house already and/or ignored the care of the property for quite awhile - or gone as far as intentionally harmed the house.
For a home that has already gone back to REO, you likewise will be seeking a fast disposition. In any case, you'll still want to consider three angles for determining the value of the subject property:
Again, we understand your urgency and the special circumstances of a Real Estate Owned house, in addition to the specific information you'll need - competing listings, neighborhood trends, and the like. You can rely on WalshStreet Appraisals to take on the appraisal of your REO with expertise and professionalism. Contact us today.
- As Repaired. Possible market value with the repairs necessary to make the property marketable at full market value - consistent with similar real estate in the area
- As-is. The market value of the house without any repairs performed
- Quick sale. With minimal investment in repairs - to get rid of the property quickly, possibly to someone who'd prefer to finish the job themselves