Foreclosure and REO Appraisals in Duval County
There are specific appraisal problems regarding a home in foreclosure or one that has reverted to the lender's holding.
When there is a house in foreclosure, it's important to know the difference between fair market value and "quick disposition" worth to know your likely charge-off liability. At Personal Service Realty's Residential Valuation Group, we have the training in both providing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time constraints.
We have the qualifications to work with the particular dynamics of a foreclosure appraisal. Contact Personal Service Realty's Residential Valuation Group for a company you can count on.
Owners of houses in foreclosure, of course, can present particular challenges. They could be uncooperative to allowing an inspection of the property. If they left the property already, they could have overlooked the care of the house for quite some time - or worse, ransacked the house.
You'll be interested in a fast disposition if the property has gone back to bank owned. So you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs done to it, with the work necessary to make the property marketable at full market value commensurate with competing real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your urgency and the special situation of a Real Estate Owned home, as well as the special information you will need -- competing listings, market trends, and so forth. You can rely on Personal Service Realty's Residential Valuation Group to handle the task of your bank owned property professionally and efficiently. Contact us today.
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