Foreclosure and Real Estate Owned Appraisals in Suffolk CountyThere are specific appraisal difficulties involved in a home in foreclosure or one that has returned to the institution's holding. When dealing with a home in foreclosure, it's important to ascertain the difference between fair market worth and "quick disposition" price to evaluate your potential charge-off liability. At Record Appraisals, Inc, we have the knowledge in both supplying snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your timeline. Record Appraisals, Inc has the expertise to handle the special dynamics of a foreclosure appraisal. Contact Record Appraisals, Inc for a company you can rely on. Unique challenges may be present when working with owners of houses in foreclosure. They could be uncooperative to allowing an inspection of the home. Often the homes have been vandalized, unfortunately by the residents. Or, it's likely you'll discover the families have moved out or the home languishing in disrepair for long of time. For real estate that has returned to REO, you likewise will be going for a quick disposition . However, you might want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work required to make the house marketable at full market value corresponding with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a bank owned property, in addition to the unique data you'll need -- competing listings, market trends, and so forth. You can count on Record Appraisals, Inc to handle the appraisal of your REO with expertise and professionalism. Contact us today. |