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REO and Foreclosure Appraisal in Riverside County
Homes that have returned to the bank's control and houses in foreclosure bring forth particular appraisal difficulties.
When there is a house in foreclosure, it's important to ascertain market value versus a "quick disposition" price to evaluate your possible charge-off liability.
We can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time constraints.
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We have the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Sandra Koutsopoulos for a company you can . |
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Occupants of property in foreclosure might be uncooperative to allowing an inspection of the house, thus presenting unique challenges.
They may have moved out of the property already and/or overlooked the care of the home for quite awhile - or even worse, caused damage to the home.
For real estate that has already changed to bank owned, you most likely will want to get rid of it quickly. Regardless, you'll still want to consider three angles for looking at the value of the asset (or in some cases, liability):- As Repaired. Possible market value with the work needed to make the home marketable at full market value - commensurate with similar homes in the neighborhood
- As-is. The value of the house without any repairs done to it
- Quick sale. Somewhere in the middle, with minimal investment in repairs - to get rid of the home quickly, likely as a "fixer-upper"
Again, we understand your timeline and the unique situation of an REO property, as well as the special data you'll need - competing listings, neighborhood trends, and so forth. You can rely on Sandra Koutsopoulos to handle the task of your bank owned property professionally and efficiently. Contact us today.
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