Real Estate Owned and Foreclosure Appraisal in Staunton City County
There are special appraisal challenges when we're talking about a house in foreclosure or one that has gone back to the lender's holding.
For a property in foreclosure, you need to recognize the gap between the fair market value and "quick disposition" value to know your potential charge-off liability. The professionals at Blue Ridge Appraisal Co., L.L.C. can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your timeline.
The professionals at Blue Ridge Appraisal Co., L.L.C. have the training to work with the specific dynamics of a foreclosure appraisal. Contact Blue Ridge Appraisal Co., L.L.C. for a company you can rely on.
Specific challenges might be present when dealing with owners of houses in foreclosure. They could be uncooperative to allowing an inspection of the house. Often the homes show signs of vandalism, often by the residents. Or, it's common to find a house at least abandoned or the home languishing in disrepair for long of time.
For a house that has already returned to Real Estate Owned, you most likely will want to get rid of it quickly . However, you might want to know and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs done to it, with the work called for to make the property marketable at full market value commensurate with competing houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your time line and the special situation of an REO property, as well as the unique information you will need -- competing listings, market trends, and the like. You can bank on Blue Ridge Appraisal Co., L.L.C. to take on the appraisal of your REO professionally and efficiently. Contact us today.