REO and Foreclosure Appraisal in Comanche County
There are particular appraisal challenges when it comes to a property in foreclosure or one that has reverted to the bank's holding.
When dealing with a property in foreclosure, you should understand the difference between fair market value and "quick disposition" worth to know your probable charge-off liability. Barnes Appraisal Company has the experience in both providing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your time constraints.
You need a company who has the qualifications to deal with the special dynamics of a foreclosure appraisal. For a company you can count on, contact Barnes Appraisal Company.
Occupants of homes in foreclosure might be disinclined to allow an inspection of the house, thus presenting special challenges. They might have left the property already and/or neglected care of the house for a long time - or worse, caused damage to the home.
For real estate that has already reverted to REO, you most likely will be interested in a speedy resolution . However, you might want to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the work required to make the home marketable at full market value consistent with the other houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your urgency and the unique situation of a Real Estate Owned house, in addition to the special information you'll need -- competing listings, neighborhood trends, and the like. You can rely on Barnes Appraisal Company to take on the task of your bank owned property with expertise and professionalism. Contact us today.