Foreclosure and Real Estate Owned Appraisals in Essex CountyHouses that have returned to the bank's holding and homes in foreclosure create unique appraisal problems. When dealing with a home in foreclosure, it's important to know the difference between fair market value and "quick disposition" value to know your potential charge-off liability. At All Aboard Appraisals, Inc., we have the training in both furnishing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time line. You need a company with the experience to work with the special dynamics of a foreclosure appraisal. Contact All Aboard Appraisals, Inc. for a company you can count on. Particular challenges can be present when working with owners of property in foreclosure. They could be disinclined to allow an inspection of the house. Sometimes the homes show signs of vandalism, often by the former residents. Or, it's likely you'll discover nobody has occupied the house for months or the home neglected for extended periods of time. For real estate that has already gone back to bank owned, you typically will want it off your hands as quickly as possible . However, you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work done to it, with the repairs necessary to make the house marketable at full market value commensurate with the other real estate in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your timeline and the unique circumstances of an REO home, in addition to the specific data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on All Aboard Appraisals, Inc. to handle the appraisal of your bank owned property professionally and efficiently. Contact us today. |