Frederick & Company is experienced when it comes to bank owned properties in Pittsburgh
Homes in foreclosure and homes that have returned to the bank's holding bring forth specific appraisal difficulties.
For a house in foreclosure, you should know the difference between the fair market worth and "quick disposition" worth to know your probable charge-off liability. At Frederick & Company, we have the experience in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
The professionals at Frederick & Company have the qualifications to work with the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Frederick & Company.
Owners of properties in foreclosure, of course, can present unique challenges. They could be disinclined to allow an inspection of the property. If they moved out of the home already, they might have not taken care of the property for a long time - or even worse, caused damage to the house.
If your property has changed to Real Estate Owned, you will interested in an expedited disposition. However, you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs performed, with the work necessary to make the house marketable at full market value corresponding with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your time line and the unique situation of a bank owned house, in addition to the unique information you'll need -- competing listings, market trends, and the like. You can count on Frederick & Company to take on the appraisal of your REO with expertise and professionalism. Contact us today.