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Foreclosure/R.E.O. Appraisals
Homes that are in foreclosure and have reverted to your institution's ownership present special appraisal challenges. At Professional Accurate Real Estate Appraisal Ltd. we’re more than ready and able to help. For a property in foreclosure you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Professional Accurate Real Estate Appraisals, Ltd. we have experience in providing a snapshot of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline. Owners of property in foreclosure present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property, they may have neglected care of the home for some time or even caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal. For a property that has already reverted to Real Estate Owned, you will be interested in a quick disposition. However, you may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique circumstances of an R.E.O. property, as well as the special information you'll need -- competing listings, market trends, and the like. We offer regular updates to our clients via telephone or e-mail along with help in emergency situations, including, but not limited to alerting authorities when we encounter vandalism and break-ins. We will also call a board-up company and agent to notify them of any emergency problems. Please browse our website to learn more about our qualifications, expertise and services offered. Below you’ll find a R.E.O. Realtors that can further assist you in this specialized market area. Mike Fields Jax Realtors & R.E.O. Group Email: mike@jaxreo.com |