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Real Estate Owned Appraisals in Riverside County
Houses that have returned to the bank's holding and houses in foreclosure present various appraisal problems.
For a home in foreclosure, you definitely need to understand the difference between the market value and a "quick disposition" assessment to know your probable charge-off liability.
At Abraham Appraisal, we have the training in both producing snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that understand your time line.
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You need a company who has the experience to handle the specific dynamics of a foreclosure appraisal. Contact Abraham Appraisal for a company you can rely on. |
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Special challenges can be present when dealing with owners of properties in foreclosure. They could be uncooperative to allowing an inspection of the home.
Often the properties have been vandalized, often by the residents. Or, it's common to find a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
For real estate that has gone back to REO, you typically will want to get rid of it quickly. Regardless, you'll still want to consider three ways of figuring the value of the real estate at hand:- As Repaired. Possible market value with the work due to make the house marketable at full market value - comparable with other properties in the neighborhood
- As-is. The value of the property without any repairs performed
- Quick sale. With minor 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, in addition to the unique information you will need - competing listings, neighborhood trends, and the like. You can count on Abraham Appraisal to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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