All City Appraisal is experienced when it comes to bank owned properties in Los Angeles
There are various appraisal problems when it comes to a house in foreclosure or one that has reverted to the financial institution's possession.
For a home in foreclosure, you should understand the gap between the fair market price and "quick disposition" value to know your possible charge-off liability. The professionals at All City Appraisal can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time constraints.
You need a company who has the training to work with the unique dynamics of a foreclosure appraisal. Contact All City Appraisal for a company you can trust.
Owners of houses in foreclosure, of course, can present unique challenges. They might be unwilling to allow an inspection of the house. They might have abandoned the house already and/or ignored the care of the home for quite some time - or even worse, caused damage to the house.
If your property has gone back to Real Estate Owned, you will interested in a fast disposition. However, you may want to know and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any repairs done to it, with the repairs necessary to make the home 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, seemingly to someone who'd rather finish the job themselves. Again, we understand your timeline and the specific circumstances of a bank owned property, as well as the unique data you will need -- competing listings, market trends, and the like. You can count on All City Appraisal to handle the appraisal of your REO with expertise and professionalism. Contact us today.