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Ford Appraisal Service is the company you should trust when it comes to foreclosures in Jefferson County There are special appraisal problems when it comes to a home in foreclosure or one that has reverted to the financial institution's control.
It's important to differentiate the meanings of "market value" and a "quick disposition" price to analyze what losses you stand to realize when dealing with a house in foreclosure. At Ford Appraisal Service, we have the training in both furnishing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that factor in your time constraints.
Owners of properties in foreclosure can present specific challenges: They may be unwilling to allow the appraiser access to the home. Sometimes the homes have been vandalized, often at the hands of the former residents. Or, it's likely you'll find a house at a minimum abandoned or the home neglected for long periods of time.
If you're dealing with a house that has gone back to REO, you will interested in a quick disposition. But you may want to know about and examine three values: as-is, as repaired, and "quick sale". These represent:
- The value of the home without any work done to it
- Value with the repairs needed to make the house marketable at full market value - in accordance with similar real estate in the neighborhood
- Somewhere in between, with minor investment in repairs - to get rid of the home quickly, possibly as a "fixer-upper"
Again, we understand your time line and the specific circumstances of a Real Estate Owned house, as well as the specific information you will need - competing listings, neighborhood trends, and the like. You can rely on Ford Appraisal Service to handle the task of your REO with expertise and professionalism. Contact us today.
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