REO Appraisal in Worcester County
There are special appraisal difficulties regarding a property in foreclosure or one that has gone back to the lender's control.
When there is a home in foreclosure, it's important to understand the difference between fair market value and "quick disposition" worth to know your possible charge-off liability. Ascension Appraisal has the training in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.
We have the qualifications to deal with the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Ascension Appraisal.
Occupants of houses in foreclosure may be disinclined to allow an inspection of the house, thus presenting specific challenges. Often the homes have been intentionally damaged, unfortunately at the hands of the residents. Or, it's common to discover the residents have moved out or the home languishing in disrepair for extended periods of time.
You will be interested in a quick disposition if the property has changed to Real Estate Owned. So you need to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work performed, with the repairs necessary to make the home marketable at full market value comparable with similar houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the unique situation of an REO house, in addition to the unique data you'll need -- competing listings, neighborhood trends, and the like. You can bank on Ascension Appraisal to take on the task of your bank owned property professionally and efficiently. Contact us today.