Foreclosure and REO Appraisal in Rio Grande County
Homes in foreclosure and houses that have reverted to the institution's possession create various appraisal challenges.
For a house in foreclosure, you might need to understand the difference between fair market and "quick disposition" to know your potential charge-off liability. At Accuracy Matters Appraisals, we have the knowledge in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.
Accuracy Matters Appraisals has the experience to handle the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Accuracy Matters Appraisals.
Owners of houses in foreclosure, of course, can present special challenges. They could be opposed to allowing an inspection of the home. They might have deserted the home already and/or ignored the care of the home for quite awhile - or gone as far as caused damage to the home.
You'll be interested in an expedited disposition if the home has already gone back to bank owned. So you might want to know about and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any work done to it, with the repairs needed to make the house marketable at full market value comparable with similar houses 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 time line and the special situation of an REO house, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can rely on Accuracy Matters Appraisals to take on the task of your bank owned property with expertise and professionalism. Contact us today.