Appraisal Source of Northwest Florida, Inc is experienced when you need appraisals for foreclosures in Okaloosa County
Houses that have reverted to the bank's holding and homes in foreclosure bring forth special appraisal challenges.
It's important to know the meanings of "market value" and a "quick disposition" assessment to analyze what losses you could sustain when dealing with a house in foreclosure. We can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
Specific challenges can be present when working with owners of property in foreclosure. They could be opposed to allowing an inspection of the property. They might have left the home already and/or overlooked the care of the house for some time - or worse, vandalized the house.
For real estate that has gone back to REO, you most likely will be seeking an expeditious disposition. In any case, you'll still want to consider three angles for figuring the value of the asset:
As Repaired. Value with the work necessary to make the home marketable at full market value - in accordance with similar properties in the area
As-is. The market value of the home without any repairs done to it
Quick sale. With minimal investment in repairs - to get rid of the property quickly, likely as a "fixer-upper"
Again, we understand your urgency and the special situation of a Real Estate Owned house, as well as the specific information you will need - competing listings, neighborhood trends, and the like. You can rely on Appraisal Source of Northwest Florida, Inc to handle the appraisal of your REO with expertise and professionalism. Contact us today.
