REO Appraisal in Los Angeles County
There are specific appraisal challenges involved in a house in foreclosure or one that has returned to the financial institution's control.
It's key to understand the difference between fair market price and "quick disposition" price to analyze what losses you might realize when dealing with a house in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your time line.
You need a company with the experience to handle the unique dynamics of a foreclosure appraisal. Contact All City Appraisal for a company you can trust.
Unique challenges may be present when working with owners of properties in foreclosure. They might be opposed to allowing an inspection of the home. They could have abandoned the property already and/or neglected care of the house for quite awhile - or unfortunately, ransacked the property.
You will be interested in a quick disposition if the home has already returned to bank owned. So you need to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any repairs performed, with the repairs necessary to make the house marketable at full market value corresponding with the other properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your timeline and the special circumstances of a bank owned home, as well as the special information you'll need -- competing listings, market trends, and the like. You can rely on All City Appraisal to take on the task of your REO professionally and efficiently. Contact us today.