Foreclosure and REO Appraisal in King County
Real Estate in foreclosure and homes that have returned to the lender's control create specific appraisal difficulties.
For a home in foreclosure, you may need to know the difference between fair market and "quick disposition" value to know your potential charge-off liability. At Crest Appraisal Services, we have the background in both furnishing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
You need a company who has the experience to work with the particular dynamics of a foreclosure appraisal. For a company you can trust, contact Crest Appraisal Services.
Owners of property in foreclosure, of course, can present special challenges. They could be opposed to allowing an inspection of the home. If they moved out of the home already, they could have neglected care of the house for awhile - or unfortunately, damaged the property.
For a house that has already returned to bank owned, you typically will want it off your hands as quickly as possible . But you might want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work done to it, with the repairs necessary to make the home marketable at full market value appropriate with competing homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your urgency and the specific circumstances of an REO house, in addition to the unique information you'll need -- competing listings, market trends, and so forth. You can bank on Crest Appraisal Services to take on the task of your REO with expertise and professionalism. Contact us today.