Foreclosure and Real Estate Owned AppraisalsHouses that have returned to the financial institution's ownership and properties in foreclosure bring forth various appraisal difficulties. When there is a home in foreclosure, you should differentiate the difference between fair market worth and "quick disposition" value to analyze your likely charge-off liability. At Gloria Ostrowski Appraisals, Inc. , we have the experience in both presenting snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time constraints. You need a company with the training to deal with the specific dynamics of a foreclosure appraisal. Contact Gloria Ostrowski Appraisals, Inc. for a company you can count on. Owners of properties in foreclosure, of course, can present unique challenges. They may be uncooperative to allowing an inspection of the home. Often the homes have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll find nobody has lived in house for months or the home neglected for extended periods of time. If your house has already returned to bank owned, you will interested in a speedy disposition. However, you might want to know about and review three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs performed, with the repairs due to make the property marketable at full market value appropriate with similar houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your timeline and the unique circumstances of a bank owned house, as well as the special information you'll need -- competing listings, neighborhood trends, and the like. You can bank on Gloria Ostrowski Appraisals, Inc. to handle the task of your REO with expertise and professionalism. Contact us today. |