Foreclosure and Real Estate Owned Appraisal in King County
There are various appraisal challenges when it comes to a home in foreclosure or one that has returned to the institution's holding.
It's key to ascertain the difference between fair market worth and "quick disposition" worth to know what losses you stand to realize when dealing with a home in foreclosure. At Crest Appraisal Services, we have the background in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your urgency.
Crest Appraisal Services has the experience to deal with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Crest Appraisal Services.
Specific challenges can be present when dealing with owners of property in foreclosure. They may be unwilling to allow an inspection of the house. Sometimes the homes show signs of vandalism, often by the former residents themselves. Or, it's common to discover a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
You will be interested in a quick disposition if the house has already gone back to bank owned. So you need to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs performed, with the work due to make the home marketable at full market value consistent with the other homes 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 time line and the specific situation of a Real Estate Owned house, in addition to the special data you will need -- competing listings, neighborhood trends, and so forth. You can count on Crest Appraisal Services to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.