Foreclosure Appraisal in Riverside County
Homes that have gone back to the bank's control and homes in foreclosure create specific appraisal difficulties.
When there is a house in foreclosure, it's important to understand the difference between fair market price and "quick disposition" worth to know your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
We have the training to work with the unique dynamics of a foreclosure appraisal. Contact Young Real Estate Appraisals for a company you can rely on.
Owners of homes in foreclosure, of course, can present unique challenges. They may be unwilling to allow an inspection of the property. Often the homes show signs of vandalism, often at the hands of the former residents. Or, it's common to discover a house at a minimum abandoned or the home neglected for long of time.
You will be interested in an expeditious disposition if the home has returned to Real Estate Owned. So you need to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the work necessary to make the home marketable at full market value corresponding with competing houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the specific circumstances of an REO house, as well as the special data you will need -- competing listings, neighborhood trends, and the like. You can count on Young Real Estate Appraisals to handle the task of your REO professionally and efficiently. Contact us today.