REO and Foreclosure Appraisal in Kitsap County
There are specific appraisal challenges for a property in foreclosure or one that has returned to the financial institution's control.
When dealing with a house in foreclosure, it's important to ascertain the difference between fair market value and "quick disposition" worth to know your likely charge-off liability. At Sound Appraisal Group, Inc, we have the knowledge in both furnishing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time constraints.
We have the training to work with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Sound Appraisal Group, Inc.
Occupants of dwellings in foreclosure could be disinclined to allow an inspection of the property, thus presenting specific challenges. Sometimes the properties have been ransacked, unfortunately at the hands of the former residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for extended periods of time.
For real estate that has reverted to Real Estate Owned, you likewise will be going for a fast resolution . However, you might want to know and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work due to make the house marketable at full market value commensurate with similar homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the special situation of an REO property, as well as the specific data you'll need -- competing listings, neighborhood trends, and the like. You can bank on Sound Appraisal Group, Inc to handle the appraisal of your REO with expertise and professionalism. Contact us today.