Real Estate Owned Appraisals in Gloucester County
There are special appraisal difficulties for a home in foreclosure or one that has gone back to the financial institution's possession.
For a house in foreclosure, you need to recognize the difference between fair market worth and "quick disposition" value to know your probable charge-off liability. At Preferred Appraisers, Inc., we have the experience in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
We have the expertise to work with the special dynamics of a foreclosure appraisal. For a company you can count on, contact Preferred Appraisers, Inc..
Owners of property in foreclosure, of course, can present special challenges. They could be uncooperative to allowing an inspection of the home. If they have abandoned the property already, they might have ignored the care of the property for quite awhile - or worse, damaged the house.
For a property that has already reverted to bank owned, you most likely will want to get rid of it quickly . But you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work done to it, with the work called for to make the home marketable at full market value corresponding with competing properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your timeline and the unique circumstances of a Real Estate Owned property, as well as the specific data you will need -- competing listings, market trends, and the like. You can count on Preferred Appraisers, Inc. to take on the task of your REO with expertise and professionalism. Contact us today.