Foreclosure and REO Appraisals in King County
There are unique appraisal difficulties when it comes to a house in foreclosure or one that has gone back to the institution's possession.
For a property in foreclosure, you need to understand the difference between the fair market price and "quick disposition" value to know your probable charge-off liability. Crest Appraisal Services has the training in both presenting snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your urgency.
You need a company who has the expertise to work with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Crest Appraisal Services.
Special challenges may be present when dealing with owners of property in foreclosure. They could be unwilling to allow an inspection of the home. Sometimes the homes show signs of vandalism, often by the former residents. Or, it's common to find a house at least abandoned or the home neglected for extended periods of time.
For real estate that has already returned to bank owned, you probably will be interested in an expeditious resolution . However, you might want to know and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work done to it, with the work required to make the home marketable at full market value comparable with similar houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the unique circumstances of a Real Estate Owned home, as well as the specific information you will need -- competing listings, market trends, and the like. You can bank on Crest Appraisal Services to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.