All City Appraisal is the company you should trust when you need appraisals for bank owned properties in Woodland Hills, CaliforniaThere are particular appraisal difficulties for a home in foreclosure or one that has returned to the bank's ownership.
When there is a home in foreclosure, it's important to know market value versus a "quick disposition" assessment to know your potential charge-off liability. At All City Appraisal, we have the training in both producing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that consider your pressing needs.
Specific challenges may be present when working with owners of properties in foreclosure. They might be disinclined to allow an inspection of the property. Sometimes the homes show signs of vandalism, unfortunately by the former residents themselves. Or, it's likely you'll discover a house at least abandoned or the home languishing in disrepair for long periods of time.
If you're dealing with property that has gone back to Real Estate Owned, you will interested in a fast disposition. However, you may want to understand and examine three values: as-is, as repaired, and "quick sale". These represent:
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