REO Appraisals in Gloucester County
There are particular appraisal challenges when we're talking about a property in foreclosure or one that has returned to the financial institution's control.
For a house in foreclosure, you need to recognize the gap between the fair market value and "quick disposition" worth to know your possible charge-off liability. The professionals at Preferred Appraisers, Inc. can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
We have the training to deal with the specific dynamics of a foreclosure appraisal. Contact Preferred Appraisers, Inc. for a company you can trust.
Specific challenges may be present when working with owners of houses in foreclosure. They may be uncooperative to allowing an inspection of the property. They might have abandoned the home already and/or neglected care of the home for awhile - or in some cases ransacked the house.
You'll be interested in an expedited disposition if the home has already reverted to REO. So you may want to know and examine three values: as-is, as repaired, and "quick sale." These represent the value of the home without any repairs performed, with the repairs required to make the property marketable at full market value consistent with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the special circumstances of a bank owned house, in addition to the unique data you'll need -- competing listings, neighborhood trends, and the like. You can rely on Preferred Appraisers, Inc. to handle the task of your bank owned property professionally and efficiently. Contact us today.