REO Appraisals in Los Angeles County
Homes in foreclosure and homes that have gone back to the financial institution's holding create unique appraisal problems.
When there is a house in foreclosure, it's important to ascertain the difference between fair market worth and "quick disposition" worth to know your probable charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your timeline.
The professionals at All City Appraisal have the qualifications to work with the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact All City Appraisal.
Owners of houses in foreclosure, of course, can present special challenges. They could be opposed to allowing an inspection of the home. Often the subjects have been intentionally damaged, unfortunately by the residents themselves. Or, it's likely you'll find nobody has occupied the house for months or the home neglected for long of time.
For a home that has changed to Real Estate Owned, you most likely will want it off your hands as quickly as possible . But 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 performed, with the work required to make the house marketable at full market value corresponding with similar homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the unique circumstances of a bank owned home, in addition to the special data you'll need -- competing listings, market trends, and the like. You can rely on All City Appraisal to handle the task of your REO professionally and efficiently. Contact us today.