Real Estate Owned and Foreclosure Appraisal in King County
Houses in foreclosure and homes that have reverted to the institution's possession create specific appraisal challenges.
When there is a home in foreclosure, you need to differentiate the difference between fair market price and "quick disposition" value to know your likely charge-off liability. At Crest Appraisal Services, we have the training in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company with the training to work with the special dynamics of a foreclosure appraisal. Contact Crest Appraisal Services for a company you can trust.
Owners of houses in foreclosure may be disinclined to allow an inspection of the house, thus presenting specific challenges. They might have abandoned the home already and/or neglected care of the property for awhile - or unfortunately, vandalized the property.
You'll be interested in a quick disposition if the property has already changed to REO. So you might want to know and compare three values: as-is, as repaired, and "quick sale." These represent the value of the home without any repairs performed, with the work called for to make the house marketable at full market value consistent with similar houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the specific situation of a bank owned house, as well as the special data you will need -- competing listings, neighborhood trends, and so forth. You can rely on Crest Appraisal Services to handle the task of your bank owned property professionally and efficiently. Contact us today.