Real Estate Owned and Foreclosure Appraisals in Sullivan County
Real Estate in foreclosure and properties that have returned to the lender's ownership present special appraisal difficulties.
It's vital to know the difference between fair market worth and "quick disposition" price to evaluate what losses you might sustain when dealing with a home in foreclosure. REVARI (Real Estate Valuation and Research Inc.) has the experience in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your urgency.
We have the training to work with the special dynamics of a foreclosure appraisal. Contact REVARI (Real Estate Valuation and Research Inc.) for a company you can count on.
Occupants of property in foreclosure might be opposed to allowing an inspection of the property, thus presenting unique challenges. Sometimes the subjects have been vandalized, often at the hands of the former residents. Or, it's likely you'll find a house at least abandoned or the home languishing in disrepair for extended periods of time.
You will be interested in a quick disposition if the house has changed to REO. So you might want to know and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any work done to it, with the repairs due to make the house marketable at full market value commensurate with competing homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the unique situation of an REO property, as well as the unique information you'll need -- competing listings, market trends, and the like. You can rely on REVARI (Real Estate Valuation and Research Inc.) to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.