Real Estate Owned Appraisal in King County
There are special appraisal challenges when we're talking about a home in foreclosure or one that has returned to the financial institution's possession.
When dealing with a house in foreclosure, it's important to know the difference between fair market value and "quick disposition" worth to evaluate your likely charge-off liability. At Crest Appraisal Services, we have the training in both supplying snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your timeline.
We have the experience to handle the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Crest Appraisal Services.
Owners of property in foreclosure might be opposed to allowing an inspection of the home, thus presenting unique challenges. Sometimes the houses show signs of vandalism, often by the former residents themselves. Or, it's common to discover the families have moved out or the home languishing in disrepair for long of time.
For real estate that has already reverted to Real Estate Owned, you most likely will be seeking a speedy disposition . But you might want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any repairs performed, with the repairs needed to make the house marketable at full market value appropriate with similar properties in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your urgency and the unique situation of an REO property, in addition to the specific data you'll need -- competing listings, neighborhood trends, and the like. You can count on Crest Appraisal Services to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.