Real Estate Owned Appraisal in Worcester County
There are various appraisal problems regarding a home in foreclosure or one that has gone back to the institution's ownership.
For a home in foreclosure, you may need to know the difference between the fair market value and "quick disposition" price to know your possible charge-off liability. Ascension Appraisal has the experience in both presenting snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your timeline.
We have the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Ascension Appraisal for a company you can trust.
Particular challenges may be present when dealing with owners of homes in foreclosure. They may be disinclined to allow an inspection of the property. Sometimes the properties show signs of vandalism, unfortunately at the hands of the former residents. Or, it's likely you'll discover the previous owners have moved out or the home languishing in disrepair for extended periods of time.
You'll be interested in a fast disposition if the house has reverted to REO. So you might want to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs performed, with the repairs called for to make the house marketable at full market value corresponding with the other properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the special circumstances of an REO property, in addition to the unique data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Ascension Appraisal to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.