Foreclosure and REO Appraisal in New Hanover CountyThere are special appraisal problems when it comes to a house in foreclosure or one that has reverted to the financial institution's possession. For a property in foreclosure, you need to understand the gap between the fair market worth and "quick disposition" worth to know your possible charge-off liability. Anderson Appraisal Services has the background in both furnishing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your time line. We have the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Anderson Appraisal Services for a company you can rely on. Special challenges may be present when dealing with owners of property in foreclosure. They could be unwilling to allow an inspection of the property. If they abandoned the house already, they may have overlooked the care of the house for quite awhile - or unfortunately, caused damage to the property. You will be interested in an expeditious disposition if the house has reverted to REO. So you need to know and examine three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work performed, with the repairs called for to make the property marketable at full market value comparable with similar houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your time line and the specific circumstances of a Real Estate Owned property, in addition to the unique information you will need -- competing listings, market trends, and the like. You can count on Anderson Appraisal Services to take on the appraisal of your REO professionally and efficiently. Contact us today. |