REO Appraisals in Clark County
There are particular appraisal difficulties when it comes to a house in foreclosure or one that has returned to the financial institution's ownership.
When dealing with a property in foreclosure, you need to know the difference between fair market price and "quick disposition" value to know your probable charge-off liability. At Anderson & Associates, we have the background in both presenting snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency.
We have the expertise to work with the specific dynamics of a foreclosure appraisal. Contact Anderson & Associates for a company you can count on.
Occupants of homes in foreclosure might be disinclined to allow an inspection of the property, thus presenting particular challenges. Often the homes have been vandalized, unfortunately by the residents. Or, it's likely you'll find a house at a minimum abandoned or the home languishing in disrepair for long of time.
For real estate that has already returned to REO, you probably will want to get rid of it quickly . However, you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the work required to make the house marketable at full market value corresponding with competing homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the unique situation of an REO home, in addition to the special data you will need -- competing listings, market trends, and the like. You can rely on Anderson & Associates to handle the appraisal of your REO professionally and efficiently. Contact us today.