Foreclosure and Real Estate Owned Appraisals in Clark County
There are specific appraisal challenges when we're talking about a property in foreclosure or one that has gone back to the financial institution's control.
It's vital to ascertain the difference between fair market value and "quick disposition" value to know what losses you might have to endure when dealing with a home in foreclosure. We can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your time constraints.
We have the training to handle the special dynamics of a foreclosure appraisal. Contact Anderson & Associates for a company you can trust.
Owners of homes in foreclosure, of course, can present special challenges. They might be unwilling to allow an inspection of the home. If they abandoned the house already, they may have ignored the care of the home for awhile - or unfortunately, caused damage to the house.
For a property that has reverted to REO, you probably will be going for a fast resolution . However, you might want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any work performed, with the work due to make the house marketable at full market value consistent with the other houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the special situation of a bank owned home, as well as the special data you'll need -- competing listings, neighborhood trends, and so forth. You can rely on Anderson & Associates to handle the appraisal of your REO professionally and efficiently. Contact us today.