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Anderson & Associates is experienced when it comes to bank owned properties in Clark County There are special appraisal problems when we're talking about a house in foreclosure or one that has gone back to the institution's holding.
For a house in foreclosure, you would be wise to understand the difference between the market price and a "quick disposition" value to know your potential charge-off liability. At Anderson & Associates, we have the background in both furnishing snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that factor in your time line.
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You need a company who has the qualifications to handle the special dynamics of a foreclosure appraisal. Contact Anderson & Associates for a company you can count on. |
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Particular challenges might be present when dealing with owners of properties in foreclosure. They may be opposed to allowing an inspection of the property. Often the houses have been ransacked, often at the hands of the residents themselves. Or, it's common to discover a house at least abandoned or the home neglected for long periods of time.
For a house that has gone back to bank owned, you most likely will be going for a quick resolution. However, you may want to know and examine the concepts of "as-is", "as repaired", and "quick sale" values. These represent:
- The value of the home without any work performed
- Possible value with the work required to make the house marketable at full market value - consistent with competing houses in the neighborhood
- Somewhere in the middle, with minimal investment in repairs - to sell the property quickly, most likely as a "fixer-upper"
Again, we understand your urgency and the unique situation of an REO house, in addition to the unique data you'll need - competing listings, market trends, and so forth. You can bank on Anderson & Associates to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.
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