Foreclosure and REO Appraisals in Allegheny County
There are specific appraisal difficulties when it comes to a home in foreclosure or one that has gone back to the lender's holding.
It's key to recognize the difference between fair market value and "quick disposition" worth to evaluate your probable charge-off liability when dealing with a home in foreclosure. The professionals at Frederick & Company can provide both snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your urgency.
Frederick & Company has the training to handle the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Frederick & Company.
Owners of houses in foreclosure could be uncooperative to allowing an inspection of the property, thus presenting unique challenges. If they have abandoned the house already, they might have neglected care of the house for awhile - or unfortunately, ransacked the home.
You'll be interested in an expedited disposition if the property has returned to REO. So you may want to know and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs done to it, with the repairs required to make the property 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 urgency and the specific circumstances of a bank owned home, in addition to the specific information you will need -- competing listings, market trends, and so forth. You can count on Frederick & Company to take on the task of your bank owned property professionally and efficiently. Contact us today.