Foreclosure and Real Estate Owned Appraisal in Worcester County
Homes that have gone back to the bank's control and homes in foreclosure present special appraisal problems.
You need to understand the difference between fair market worth and "quick disposition" worth to analyze what losses you stand to sustain when dealing with a property in foreclosure. Ascension Appraisal has the experience in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your timeline.
You need a company with the qualifications to deal with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Ascension Appraisal.
Owners of homes in foreclosure might be opposed to allowing an inspection of the home, thus presenting particular challenges. Sometimes the houses have been vandalized, often by the former residents themselves. Or, it's likely you'll discover the residents have moved out or the home neglected for extended periods of time.
For a house that has reverted to REO, you probably will want it off your hands as quickly as possible . But you may want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any work performed, with the work necessary to make the home marketable at full market value comparable with similar homes in the neighborhood, and, somewhere in the middle, with minor 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, in addition to the specific information you will need -- competing listings, neighborhood trends, and so forth. You can rely on Ascension Appraisal to take on the task of your REO professionally and efficiently. Contact us today.