Foreclosure Appraisals in Allegheny County
There are particular appraisal problems for a house in foreclosure or one that has reverted to the institution's ownership.
For a house in foreclosure, you need to know the difference between the fair market and "quick disposition" to know your possible charge-off liability. Frederick & Company has the knowledge in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your timeline.
We have the experience to deal with the specific dynamics of a foreclosure appraisal. Contact Frederick & Company for a company you can count on.
Owners of houses in foreclosure might be disinclined to allow an inspection of the home, thus presenting special challenges. They may have moved out of the property already and/or ignored the care of the property for quite awhile - or in some cases caused damage to the house.
You'll be interested in an expedited disposition if the property has reverted to Real Estate Owned. So you may want to know about and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work performed, with the repairs needed to make the home marketable at full market value comparable with the other houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the unique situation of an REO property, in addition to the special information you'll need -- competing listings, market trends, and the like. You can rely on Frederick & Company to take on the task of your REO professionally and efficiently. Contact us today.