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Real Estate Owned and Foreclosure Appraisals in Sacramento County
Homes in foreclosure and homes that have reverted to the lender's possession bring forth special appraisal problems.
When there is a house in foreclosure, it's important to ascertain market value versus a "quick disposition" price to evaluate your potential charge-off liability.
We can provide both snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your time line.
Owners of houses in foreclosure, naturally, can present unique challenges. For example, they may be disinclined to allow an inspection of the property.
If they deserted the home already, they could have neglected care of the home for some time - or unfortunately, ransacked the home.
You will be interested in an expeditious disposition if the property has reverted to REO. So you need to know and compare three values: "as-is", "as repaired", and "quick sale". These symbolize: - The value of the house without any repairs done to it
- Value with the work necessary to make the house marketable at full market value - comparable with competing houses in the neighborhood
- Somewhere in between, with minimal investment in repairs - to sell the home quickly, seemingly to someone who'd prefer to finish the job themselves
Again, we understand your timeline and the specific situation of a Real Estate Owned property, as well as the special information you'll need - competing listings, neighborhood trends, and so forth. You can rely on Foster Appraisal Services to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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