Ascension Appraisal is experienced when you need appraisals for foreclosures in Leominster
There are special appraisal difficulties when it comes to a home in foreclosure or one that has gone back to the lender's ownership.
It's key to understand the difference between fair market worth and "quick disposition" worth to know what losses you might have to endure when dealing with a home in foreclosure. Ascension Appraisal has the training in both providing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line.
You need a company who has the qualifications to handle the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Ascension Appraisal.
Specific challenges may be present when dealing with owners of houses in foreclosure. They may be disinclined to allow an inspection of the property. Often the homes have been vandalized, often by the residents. Or, it's common to discover the families have moved out or the home neglected for extended periods of time.
You will be interested in a quick disposition if the home has reverted to REO. So you might want to know and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work done to it, with the repairs needed to make the property marketable at full market value comparable with competing properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the unique situation of a Real Estate Owned house, as well as the specific data you will need -- competing listings, market trends, and so forth. You can count on Ascension Appraisal to take on the appraisal of your REO with expertise and professionalism. Contact us today.