REO Appraisal in Gloucester County
Real Estate in foreclosure and properties that have reverted to the institution's possession bring forth special appraisal challenges.
When dealing with a home in foreclosure, it's important to know the difference between fair market value and "quick disposition" value to analyze your likely charge-off liability. At Preferred Appraisers, Inc., we have the training in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your urgency.
Preferred Appraisers, Inc. has the experience to work with the particular dynamics of a foreclosure appraisal. For a company you can trust, contact Preferred Appraisers, Inc..
Owners of dwellings in foreclosure might be unwilling to allow an inspection of the house, thus presenting specific challenges. If they deserted the house already, they may have neglected care of the house for some time - or worse, damaged the house.
For a property that has returned to REO, you probably will want it off your hands as quickly as possible . However, you may want to know and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work done to it, with the repairs required to make the home marketable at full market value appropriate with the other properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the special circumstances of a bank owned property, as well as the specific data you will need -- competing listings, neighborhood trends, and so forth. You can bank on Preferred Appraisers, Inc. to take on the task of your REO with expertise and professionalism. Contact us today.