Foreclosure Appraisal in Gloucester County
Properties in foreclosure and homes that have returned to the lender's control bring forth unique appraisal problems.
When dealing with a home in foreclosure, you should recognize the difference between fair market worth and "quick disposition" price to evaluate your probable charge-off liability. Preferred Appraisers, Inc. has the knowledge in both furnishing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your timeline.
Preferred Appraisers, Inc. has the training to deal with the special dynamics of a foreclosure appraisal. For a company you can count on, contact Preferred Appraisers, Inc..
Occupants of homes in foreclosure may be disinclined to allow an inspection of the house, thus presenting specific challenges. They might have deserted the home already and/or overlooked the care of the house for quite awhile - or even worse, ransacked the house.
You will be interested in a quick disposition if the home has changed to REO. So you might want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work performed, with the work necessary to make the property marketable at full market value comparable with competing properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the unique circumstances of a bank owned property, in addition to the unique data you will need -- competing listings, market trends, and so forth. You can rely on Preferred Appraisers, Inc. to take on the appraisal of your REO with expertise and professionalism. Contact us today.