REO and Foreclosure Appraisal in Placer CountyHouses in foreclosure and houses that have reverted to the lender's ownership present specific appraisal challenges. For a property in foreclosure, you need to recognize the difference between fair market and "quick disposition" to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line. You need a company who has the qualifications to work with the unique dynamics of a foreclosure appraisal. Contact Peterson Appraisal Group for a company you can rely on. Owners of properties in foreclosure, of course, can present special challenges. They could be opposed to allowing an inspection of the property. If they abandoned the house already, they might have ignored the care of the house for quite some time - or unfortunately, damaged the property. If your home has returned to REO, you will interested in a fast disposition. But you may want to know about and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any repairs done to it, with the repairs necessary to make the home marketable at full market value comparable with competing houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned home, as well as the special data you will need -- competing listings, neighborhood trends, and so forth. You can rely on Peterson Appraisal Group to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today. |