Foreclosure and REO Appraisal in Allegheny County
There are unique appraisal difficulties for a home in foreclosure or one that has gone back to the financial institution's ownership.
When there is a house in foreclosure, it's important to differentiate the difference between fair market price and "quick disposition" value to evaluate your probable charge-off liability. At Frederick & Company, we have the background in both presenting snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your timeline.
Frederick & Company has the qualifications to deal with the particular dynamics of a foreclosure appraisal. Contact Frederick & Company for a company you can count on.
Occupants of homes in foreclosure might be disinclined to allow an inspection of the home, thus presenting specific challenges. They might have left the home already and/or overlooked the care of the property for some time - or in some cases caused damage to the house.
You will be interested in a fast disposition if the house has reverted to Real Estate Owned. So you need to know and compare 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 needed to make the home marketable at full market value comparable with competing real estate in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a Real Estate Owned house, as well as the specific data you will need -- competing listings, market trends, and the like. You can rely on Frederick & Company to take on the task of your REO with expertise and professionalism. Contact us today.