REO Appraisals in Los Angeles County
Houses in foreclosure and properties that have reverted to the bank's holding create particular appraisal challenges.
You need to understand the difference between fair market worth and "quick disposition" worth to analyze what losses you stand to sustain when dealing with a property in foreclosure. The professionals at All City Appraisal can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.
All City Appraisal has the training to deal with the specific dynamics of a foreclosure appraisal. Contact All City Appraisal for a company you can rely on.
Special challenges can be present when working with owners of homes in foreclosure. They could be opposed to allowing an inspection of the home. If they moved out of the home already, they could have not taken care of the property for a long time - or worse, caused damage to the house.
You will be interested in a speedy disposition if the property has already reverted to Real Estate Owned. So you might want to know and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any repairs done to it, with the work required to make the house marketable at full market value comparable with competing real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the specific situation of a Real Estate Owned home, in addition to the special data you will need -- competing listings, market trends, and so forth. You can rely on All City Appraisal to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.