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Gene Meyer Appraisals is experienced when you need appraisals for bank owned properties in El Dorado County There are particular appraisal problems when we're talking about a house in foreclosure or one that has returned to the institution's control.
When there is a house in foreclosure, you need to differentiate fair market value versus "quick disposition" price to analyze your likely charge-off liability. At Gene Meyer Appraisals, we have the background in both supplying snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that consider your time line.
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You need a company with the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Gene Meyer Appraisals for a company you can trust. |
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Occupants of properties in foreclosure could be unwilling to allow an inspection of the home, thus presenting unique challenges. They could have left the home already and/or ignored the care of the house for some time - or unfortunately, vandalized the home.
For a house that has reverted to bank owned, you likewise will be seeking a fast disposition. Regardless, you'll still want to consider three ways of looking at the worth of the subject property:
- As Repaired. Value with the work called for to make the property marketable at full market value - appropriate with competing properties in the neighborhood
- As-is. The value of the home without any work performed
- Quick sale. Somewhere in between, with minor investment in repairs - to get rid of the home quickly, possibly to someone inclined to finish the job themselves
Again, we understand your timeline and the special situation of a Real Estate Owned property, as well as the unique data you will need - competing listings, neighborhood trends, and so forth. You can count on Gene Meyer Appraisals to take on the task of your bank owned property professionally and efficiently. Contact us today.
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