Real Estate Owned and Foreclosure Appraisals in King County
Houses that have gone back to the financial institution's holding and properties in foreclosure present specific appraisal challenges.
For a home in foreclosure, you might need to know the gap between the fair market price and "quick disposition" to know your probable charge-off liability. At Crest Appraisal Services, we have the background in both presenting snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company who has the training to handle the particular dynamics of a foreclosure appraisal. Contact Crest Appraisal Services for a company you can count on.
Owners of homes in foreclosure may be unwilling to allow an inspection of the property, thus presenting unique challenges. Often the houses have been vandalized, often by the former residents. Or, it's likely you'll discover the previous owners have moved out or the home languishing in disrepair for extended periods of time.
If your house has reverted to Real Estate Owned, you will interested in a quick disposition. But you might want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs performed, with the repairs needed to make the property marketable at full market value commensurate with competing real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the unique situation of a bank owned house, in addition to the specific information you will need -- competing listings, market trends, and the like. You can rely on Crest Appraisal Services to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.