Foreclosure Appraisals in Riverside County
There are unique appraisal problems regarding a property in foreclosure or one that has gone back to the lender's control.
You should differentiate the difference between fair market price and "quick disposition" price to evaluate your potential write-down liability when dealing with a house in foreclosure. Stephanie L. Duffy Appraisal Services has the training in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your time line.
We have the qualifications to handle the particular dynamics of a foreclosure appraisal. Contact Stephanie L. Duffy Appraisal Services for a company you can trust.
Owners of properties in foreclosure may be uncooperative to allowing an inspection of the house, thus presenting special challenges. Often the subjects have been intentionally damaged, unfortunately by the former residents. Or, it's common to find nobody has occupied the house for months or the home neglected for long of time.
You'll be interested in a speedy disposition if the home has returned to REO. So you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any repairs performed, with the work necessary to make the property marketable at full market value comparable with the other homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your urgency and the specific circumstances of a Real Estate Owned house, in addition to the specific information you'll need -- competing listings, market trends, and the like. You can rely on Stephanie L. Duffy Appraisal Services to take on the task of your bank owned property with expertise and professionalism. Contact us today.