Real Estate Owned and Foreclosure Appraisals in Sullivan County
Homes that have reverted to the bank's possession and homes in foreclosure create various appraisal difficulties.
When dealing with a house in foreclosure, you need to recognize the difference between fair market price and "quick disposition" worth to analyze your possible charge-off liability. REVARI (Real Estate Valuation and Research Inc.) has the knowledge in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your urgency.
You need a company who has the expertise to work with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact REVARI (Real Estate Valuation and Research Inc.).
Unique challenges may be present when working with owners of homes in foreclosure. They might be opposed to allowing an inspection of the home. They may have deserted the home already and/or ignored the care of the home for a long time - or even worse, damaged the property.
You will be interested in a fast disposition if the house has gone back to REO. So you might want to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work performed, with the repairs required to make the house marketable at full market value commensurate with the other properties in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your timeline and the special circumstances of a Real Estate Owned house, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can rely on REVARI (Real Estate Valuation and Research Inc.) to handle the appraisal of your REO professionally and efficiently. Contact us today.