Young Real Estate Appraisals is experienced when it comes to bank owned properties in Palm Desert
There are unique appraisal difficulties for a house in foreclosure or one that has returned to the lender's ownership.
You should recognize the difference between fair market value and "quick disposition" price to evaluate your probable charge-off liability when dealing with a house in foreclosure. Young Real Estate Appraisals has the background in both providing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your timeline.
You need a company with the experience to work with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Young Real Estate Appraisals.
Specific challenges might be present when dealing with owners of property in foreclosure. They might be opposed to allowing an inspection of the house. If they moved out of the property already, they might have neglected care of the property for some time - or unfortunately, ransacked the home.
You will be interested in a fast disposition if the home has reverted to REO. So you need to know about and review three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the work necessary to make the house marketable at full market value appropriate with the other homes in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the specific circumstances of a bank owned home, as well as the unique information you'll need -- competing listings, neighborhood trends, and the like. You can count on Young Real Estate Appraisals to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.