Foreclosure and Real Estate Owned Appraisal in Riverside County
There are particular appraisal problems for a house in foreclosure or one that has returned to the lender's holding.
When there is a home in foreclosure, it's important to differentiate the difference between fair market price and "quick disposition" value to evaluate your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
We have the qualifications to handle the special dynamics of a foreclosure appraisal. For a company you can trust, contact Young Real Estate Appraisals.
Owners of homes in foreclosure, of course, can present unique challenges. They might be opposed to allowing an inspection of the property. If they moved out of the home already, they may have overlooked the care of the home for quite some time - or worse, caused damage to the property.
You will be interested in an expeditious disposition if the home has gone back to Real Estate Owned. So you need to know and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work done to it, with the work necessary to make the house marketable at full market value corresponding with similar properties in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your urgency and the special circumstances of a bank owned house, as well as the specific information you will need -- competing listings, market trends, and the like. You can rely on Young Real Estate Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today.