REO and Foreclosure Appraisal in County
Homes that have gone back to the bank's ownership and properties in foreclosure create particular appraisal challenges.
When dealing with a home in foreclosure, you should know the difference between fair market worth and "quick disposition" worth to know your likely charge-off liability. Barnstable/Plymouth Appraisal Services has the knowledge in both supplying snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your time line.
You need a company with the qualifications to work with the special dynamics of a foreclosure appraisal. For a company you can trust, contact Barnstable/Plymouth Appraisal Services.
Owners of properties in foreclosure, of course, can present specific challenges. They may be disinclined to allow an inspection of the home. If they deserted the house already, they might have not taken care of the property for a long time - or worse, damaged the home.
For real estate that has already reverted to bank owned, you typically will want it off your hands as quickly as possible . However, you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work done to it, with the work called for to make the property marketable at full market value comparable with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the specific circumstances of a bank owned house, in addition to the special information you'll need -- competing listings, market trends, and the like. You can count on Barnstable/Plymouth Appraisal Services to handle the task of your REO professionally and efficiently. Contact us today.