Foreclosure and REO Appraisals in Maricopa County
There are unique appraisal problems involved in a home in foreclosure or one that has returned to the financial institution's control.
It's important to know the difference between fair market value and "quick disposition" price to analyze what losses you stand to have to endure when dealing with a property in foreclosure. Timeline Appraisal Services, LLC has the knowledge in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your timeline.
You need a company who has the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Timeline Appraisal Services, LLC for a company you can trust.
Special challenges can be present when dealing with owners of houses in foreclosure. They might be opposed to allowing an inspection of the home. Often the homes have been vandalized, often by the former residents. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
You'll be interested in an expedited disposition if the house has changed to Real Estate Owned. So you need to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any work performed, with the repairs due to make the home marketable at full market value comparable with the other houses in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the unique situation of a bank owned property, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can bank on Timeline Appraisal Services, LLC to take on the task of your bank owned property with expertise and professionalism. Contact us today.