Real Estate Owned and Foreclosure Appraisals in Scurry County
There are special appraisal problems when we're talking about a property in foreclosure or one that has reverted to the lender's possession.
For a home in foreclosure, you should understand the difference between fair market worth and "quick disposition" worth to know your likely charge-off liability. At Texas Real Estate Office, we have the knowledge in both furnishing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time line.
We have the training to handle the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Texas Real Estate Office.
Occupants of dwellings in foreclosure may be disinclined to allow an inspection of the property, thus presenting unique challenges. If they abandoned the home already, they may have neglected care of the home for some time - or unfortunately, caused damage to the property.
For a property that has changed to REO, you typically will want it off your hands as quickly as possible . But you might want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs performed, with the work called for to make the property marketable at full market value comparable with competing homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your time line and the special situation of a Real Estate Owned house, as well as the unique data you'll need -- competing listings, market trends, and so forth. You can count on Texas Real Estate Office to handle the appraisal of your REO with expertise and professionalism. Contact us today.