REO and Foreclosure Appraisals in Suffolk County
Homes that have reverted to the institution's holding and houses in foreclosure bring forth unique appraisal difficulties.
When dealing with a home in foreclosure, you should understand the difference between fair market value and "quick disposition" worth to know your possible charge-off liability. At Premier Appraisals, Inc., we have the knowledge in both supplying snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company with the training to work with the particular dynamics of a foreclosure appraisal. Contact Premier Appraisals, Inc. for a company you can rely on.
Occupants of property in foreclosure might be disinclined to allow an inspection of the home, thus presenting special challenges. Often the houses show signs of vandalism, often by the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home neglected for long of time.
For real estate that has reverted to REO, you probably will want to get rid of it quickly . However, you might want to know and review three values: as-is, as repaired, and "quick sale." These symbolize 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 the other houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the unique situation of an REO property, in addition to the unique data you'll need -- competing listings, neighborhood trends, and so forth. You can count on Premier Appraisals, Inc. to handle the task of your bank owned property with expertise and professionalism. Contact us today.