Foreclosure and REO Appraisal in Comanche County
Homes that have returned to the bank's control and properties in foreclosure create special appraisal problems.
It's vital to recognize the difference between fair market price and "quick disposition" worth to evaluate what losses you could have to endure when dealing with a house in foreclosure. At Barnes Appraisal Company, we have the training in both furnishing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your timeline.
You need a company who has the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Barnes Appraisal Company for a company you can trust.
Owners of in foreclosure could be disinclined to allow an inspection of the home, thus presenting specific challenges. Often the properties show signs of vandalism, unfortunately at the hands of the former residents themselves. Or, it's likely you'll find the families have moved out or the home languishing in disrepair for long of time.
For a house that has returned to REO, you most likely will want it off your hands as quickly as possible . However, you might want to know about and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work needed to make the property marketable at full market value comparable with similar real estate in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the unique situation of a bank owned home, as well as the specific information you'll need -- competing listings, market trends, and so forth. You can count on Barnes Appraisal Company to handle the appraisal of your REO with expertise and professionalism. Contact us today.