Foreclosure and REO Appraisals in Scotts Bluff County
Properties that have reverted to the institution's ownership and homes in foreclosure present specific appraisal challenges.
For a house in foreclosure, you may need to know the difference between fair market price and "quick disposition" to know your possible charge-off liability. Pierce Appraisal has the knowledge in both presenting snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your urgency.
Pierce Appraisal has the experience to work with the unique dynamics of a foreclosure appraisal. For a company you can trust, contact Pierce Appraisal.
Specific challenges can be present when working with owners of houses in foreclosure. They could be disinclined to allow an inspection of the house. They may have moved out of the property already and/or ignored the care of the house for quite some time - or even worse, vandalized the property.
You will be interested in an expedited disposition if the home has already reverted to bank owned. So you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work performed, with the repairs called for to make the house marketable at full market value commensurate with the other homes in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the special circumstances of an REO home, in addition to the specific data you will need -- competing listings, neighborhood trends, and the like. You can count on Pierce Appraisal to handle the task of your REO professionally and efficiently. Contact us today.