Foreclosure and REO Appraisals in Clark County
Homes in foreclosure and homes that have gone back to the bank's holding bring forth particular appraisal challenges.
For a house in foreclosure, you may need to understand the gap between the fair market worth and "quick disposition" worth to know your possible charge-off liability. Anderson & Associates has the experience in both furnishing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time line.
Anderson & Associates has the expertise to deal with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Anderson & Associates.
Particular challenges can be present when working with owners of homes in foreclosure. They might be opposed to allowing an inspection of the home. They could have deserted the property already and/or overlooked the care of the property for a long time - or in some cases damaged the home.
You'll be interested in a fast disposition if the property has changed to bank owned. So you might want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work done to it, with the repairs needed to make the home marketable at full market value comparable with similar houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your urgency and the specific situation of a bank owned house, in addition to the specific information you will need -- competing listings, neighborhood trends, and the like. You can rely on Anderson & Associates to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.