REO and Foreclosure Appraisals

Homes in foreclosure and homes that have gone back to the bank or lending institution present special appraisal challenges. At Advanced Appraisal Services we have the knowledge and experience it takes to handle even the most challenging appraisal assignments.

For a property in foreclosure you may need to know the difference between fair market value and "quick disposition" value to know your potential charge-off liability. We have experience in today's declining market, and can develop an opinion of value that depicts not only fair market value but lender imposed restricted marketing times values (usually under 30/60/90 days) as well.  

Owners of properties in foreclosure can present special challenges. Sometimes an owner may be unwilling to allow an inspection of the property. If they have abandoned the property already they may have neglected care of the home for some time - or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal, and you should not hesitate to rely on us.

For a property that has already reverted to Real Estate Owned (REO), you likely will be interested in a quick disposition. Usually a lender will want to know and compare three values: 1) As-is, 2) as repaired, and 3) restricted marketing time sale. We are experienced and trained in construction and repair estimates, and a "cost-to-cure" estimation included in the appraisal is often necessary to give the owner an idea of what they are facing and what a realistic list price may be. We also understand that an REO property may have been in their inventory for some time, and the timeline for dispensing of the property has reached a critical stage. Our 48 guaranteed turnaround times, coupled with the knowledge and professional experience we offer make for a perfect solution to your REO appraisal needs.

 

Please feel free to contact us regarding any questions you may have about our REO or foreclosure appraisal services. We'll be glad to take a look at your property and offer our professional opinion with absolutely no obligation. 

 

"Advice is Cheap. Insight is Precious." ™

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