REO Appraisals in Los Angeles County
There are specific appraisal challenges regarding a home in foreclosure or one that has returned to the lender's control.
When there is a house in foreclosure, it's important to differentiate the difference between fair market worth and "quick disposition" worth to know your likely charge-off liability. At AppraisalWorks, we have the experience in both producing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time line.
AppraisalWorks has the qualifications to deal with the particular dynamics of a foreclosure appraisal. For a company you can trust, contact AppraisalWorks.
Unique challenges may be present when dealing with owners of property in foreclosure. They may be uncooperative to allowing an inspection of the home. They could have deserted the home already and/or overlooked the care of the property for awhile - or even worse, caused damage to the property.
For real estate that has reverted to Real Estate Owned, you most likely will want to get rid of it quickly . But you may want to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work performed, with the repairs needed to make the house marketable at full market value commensurate with competing properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly to someone who'd rather finish the job themselves. Again, we understand your urgency and the unique situation of a bank owned house, in addition to the special data you'll need -- competing listings, market trends, and so forth. You can bank on AppraisalWorks to handle the task of your bank owned property with expertise and professionalism. Contact us today.