REO Appraisal in Los Angeles County
Houses that have gone back to the bank's ownership and houses in foreclosure present unique appraisal difficulties.
You should understand the difference between fair market worth and "quick disposition" value to evaluate what losses you might realize when dealing with a home in foreclosure. The professionals at WalshStreet Appraisals can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your timeline.
WalshStreet Appraisals has the expertise to deal with the special dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can rely on.
Owners of houses in foreclosure, of course, can present particular challenges. They could be unwilling to allow an inspection of the home. If they deserted the home already, they may have overlooked the care of the property for some time - or worse, ransacked the home.
For a house that has already returned to REO, you typically will want to get rid of it quickly . But you may want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any work performed, with the work called for to make the home marketable at full market value appropriate with similar homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your timeline and the special situation of a Real Estate Owned home, in addition to the special information you will need -- competing listings, neighborhood trends, and so forth. You can rely on WalshStreet Appraisals to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.