REO Appraisal in Oakland County
Houses that have gone back to the bank's ownership and properties in foreclosure create unique appraisal problems.
It's important to know the difference between fair market value and "quick disposition" worth to analyze what losses you might realize when dealing with a house in foreclosure. Property Valuation Group has the training in both furnishing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your time line.
You need a company who has the training to handle the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Property Valuation Group.
Particular challenges may be present when working with owners of property in foreclosure. They could be uncooperative to allowing an inspection of the house. They may have moved out of the home already and/or neglected care of the house for a long time - or gone as far as damaged the property.
If your house has already returned to Real Estate Owned, you will interested in a quick disposition. But you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work done to it, with the repairs needed to make the house marketable at full market value comparable with competing houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the special situation of a bank owned home, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can bank on Property Valuation Group to handle the task of your REO with expertise and professionalism. Contact us today.