REO and Foreclosure Appraisal in Larimer County
There are specific appraisal problems regarding a house in foreclosure or one that has returned to the financial institution's ownership.
When there is a house in foreclosure, you should know the difference between fair market price and "quick disposition" value to evaluate your possible charge-off liability. At Tri-County Appraisals, we have the knowledge in both presenting snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time constraints.
You need a company with the qualifications to handle the special dynamics of a foreclosure appraisal. For a company you can trust, contact Tri-County Appraisals.
Owners of dwellings in foreclosure may be opposed to allowing an inspection of the property, thus presenting specific challenges. They might have abandoned the house already and/or ignored the care of the house for quite awhile - or gone as far as vandalized the house.
If your house has returned to REO, you will interested in a quick disposition. However, you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs performed, with the work due to make the house marketable at full market value consistent with competing properties in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the unique circumstances of an REO property, as well as the special data you will need -- competing listings, neighborhood trends, and the like. You can bank on Tri-County Appraisals to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.