REO and Foreclosure Appraisals in Sullivan County
Properties that have returned to the institution's possession and houses in foreclosure bring forth special appraisal problems.
When dealing with a home in foreclosure, it's important to know the difference between fair market price and "quick disposition" price to know your probable charge-off liability. REVARI (Real Estate Valuation and Research Inc.) has the background in both presenting snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your urgency.
You need a company who has the training to handle the special dynamics of a foreclosure appraisal. For a company you can rely on, contact REVARI (Real Estate Valuation and Research Inc.).
Unique challenges may be present when working with owners of property in foreclosure. They may be uncooperative to allowing an inspection of the house. Sometimes the properties have been ransacked, unfortunately at the hands of the residents. Or, it's likely you'll find a house at a minimum abandoned or the home neglected for long of time.
You will be interested in a speedy disposition if the property has already gone back to bank owned. So you may want to know and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work performed, with the repairs called for to make the house marketable at full market value commensurate with competing properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone who'd prefer to finish the job themselves. Again, we understand your time line and the unique situation of an REO property, in addition to the unique data you'll need -- competing listings, market trends, and so forth. You can rely on REVARI (Real Estate Valuation and Research Inc.) to handle the task of your REO with expertise and professionalism. Contact us today.