REO and Foreclosure Appraisal in Jefferson County
Houses in foreclosure and properties that have reverted to the financial institution's holding present specific appraisal challenges.
For a property in foreclosure, you should understand the gap between fair market worth and "quick disposition" worth to know your possible charge-off liability. At Deer Creek Appraisals, we have the experience in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time constraints.
You need a company with the training to handle the special dynamics of a foreclosure appraisal. Contact Deer Creek Appraisals for a company you can rely on.
Occupants of property in foreclosure could be unwilling to allow an inspection of the house, thus presenting particular challenges. If they abandoned the house already, they could have overlooked the care of the house for quite some time - or unfortunately, ransacked the property.
You will be interested in an expeditious disposition if the home has changed to bank owned. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs done to it, with the work due to make the house marketable at full market value comparable with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the special circumstances of an REO house, in addition to the specific data you will need -- competing listings, market trends, and so forth. You can count on Deer Creek Appraisals to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.