Young Real Estate Appraisals is experienced when it comes to bank owned properties in Riverside
There are special appraisal problems for a house in foreclosure or one that has gone back to the institution's possession.
When there is a property in foreclosure, it's important to know the difference between fair market value and "quick disposition" value to evaluate your possible charge-off liability. Young Real Estate Appraisals has the experience in both providing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your timeline.
You need a company who has the expertise to work with the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Young Real Estate Appraisals.
Occupants of in foreclosure might be disinclined to allow an inspection of the house, thus presenting specific challenges. Sometimes the homes show signs of vandalism, unfortunately at the hands of the former residents. Or, it's common to find the residents have moved out or the home neglected for long of time.
You will be interested in a fast disposition if the house has returned to Real Estate Owned. So you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any repairs done to it, with the work necessary to make the home marketable at full market value commensurate with similar properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly to someone who'd rather finish the job themselves. Again, we understand your time line and the specific situation of a bank owned house, as well as the special information you will need -- competing listings, neighborhood trends, and so forth. You can rely on Young Real Estate Appraisals to take on the task of your bank owned property with expertise and professionalism. Contact us today.