Real Estate Owned Appraisals in Sullivan County
Homes in foreclosure and houses that have gone back to the institution's holding create particular appraisal difficulties.
When there is a home in foreclosure, it's important to understand the difference between fair market price and "quick disposition" value to evaluate your possible charge-off liability. At REVARI (Real Estate Valuation and Research Inc.), we have the experience in both furnishing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your timeline.
You need a company with the training to handle the specific dynamics of a foreclosure appraisal. For a company you can count on, contact REVARI (Real Estate Valuation and Research Inc.).
Owners of property in foreclosure, of course, can present specific challenges. They could be unwilling to allow an inspection of the home. Often the houses show signs of vandalism, unfortunately at the hands of the residents themselves. Or, it's likely you'll find a house at a minimum abandoned or the home languishing in disrepair for long of time.
You'll be interested in an expedited disposition if the property has returned to bank owned. So you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work performed, with the work required to make the house marketable at full market value consistent with competing homes in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the specific situation of a bank owned property, in addition to the unique information you'll need -- competing listings, neighborhood trends, and the like. You can rely on REVARI (Real Estate Valuation and Research Inc.) to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.