Foreclosure Appraisal in King County
Properties in foreclosure and houses that have returned to the institution's possession present various appraisal challenges.
When dealing with a house in foreclosure, it's important to recognize the difference between fair market price and "quick disposition" value to analyze your possible charge-off liability. At Crest Appraisal Services, we have the knowledge in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time constraints.
Crest Appraisal Services has the experience to work with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Crest Appraisal Services.
Owners of properties in foreclosure, of course, can present specific challenges. They could be unwilling to allow an inspection of the house. Sometimes the houses have been vandalized, often at the hands of the residents themselves. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
You'll be interested in a quick disposition if the house has gone back to REO. So you need to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any repairs done to it, with the repairs due to make the house marketable at full market value consistent with similar houses 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 timeline and the unique situation of a Real Estate Owned home, in addition to the specific data you'll need -- competing listings, market trends, and so forth. You can rely on Crest Appraisal Services to take on the task of your REO with expertise and professionalism. Contact us today.