Foreclosure and REO Appraisal in Los Angeles County
Homes that have gone back to the institution's possession and properties in foreclosure present specific appraisal problems.
It's important to differentiate the difference between fair market price and "quick disposition" worth to know your possible write-down liability when dealing with a home in foreclosure. WalshStreet Appraisals has the background in both presenting snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time line.
We have the expertise to deal with the unique dynamics of a foreclosure appraisal. Contact WalshStreet Appraisals for a company you can count on.
Owners of properties in foreclosure, of course, can present specific challenges. They might be opposed to allowing an inspection of the home. If they abandoned the property already, they could have overlooked the care of the property for quite some time - or worse, damaged the home.
For a property that has already returned to REO, you probably will be interested in a speedy resolution . However, you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work done to it, with the repairs called for to make the house marketable at full market value consistent with competing homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the special situation of a bank owned property, in addition to the unique data you will need -- competing listings, neighborhood trends, and the like. You can bank on WalshStreet Appraisals to take on the task of your bank owned property professionally and efficiently. Contact us today.