WalshStreet Appraisals is experienced when you need appraisals for bank owned properties in Los Angeles, California
Homes that have gone back to the bank's ownership and homes in foreclosure bring forth unique appraisal difficulties.
You should know the meanings of "market value" and a "quick disposition" value to evaluate what losses you could realize when dealing with a home in foreclosure.
At WalshStreet Appraisals, we have the background in both producing snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that understand your urgency.
Special challenges may be present when dealing with owners of houses in foreclosure. They could be disinclined to allow an inspection of the property.
If they abandoned the property already, they might have not taken care of the house for quite some time - or unfortunately, caused damage to the home.
For real estate that has already reverted to bank owned, you most likely will want it off your hands as quickly as possible. In any case, you'll still want to consider three ways of determining the value of the subject property:
Again, we understand your time line and the unique situation of an REO house, in addition to the unique data you'll need - competing listings, neighborhood trends, and so forth. You can count on WalshStreet Appraisals to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.
- As Repaired. Possible market value with the work required to make the home marketable at full market value - consistent with competing homes in the neighborhood
- As-is. The value of the home without any work done to it
- Quick sale. Somewhere in between, with minimal investment in repairs - to sell the property quickly, most likely as a "fixer-upper"