REO and Foreclosure Appraisal in Bucks County
Homes that have returned to the financial institution's possession and properties in foreclosure create special appraisal difficulties.
When there is a house in foreclosure, it's important to know the difference between fair market worth and "quick disposition" worth to evaluate your possible charge-off liability. At Home and Hearth Appraisals LLC, we have the experience in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
We have the training to work with the specific dynamics of a foreclosure appraisal. Contact Home and Hearth Appraisals LLC for a company you can trust.
Owners of property in foreclosure, of course, can present particular challenges. They might be disinclined to allow an inspection of the property. They may have moved out of the house already and/or overlooked the care of the house for some time - or unfortunately, damaged the house.
For a home that has changed to REO, you typically will want it off your hands as quickly as possible . But you might want to know and review three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs done to it, with the repairs called for to make the property marketable at full market value corresponding with competing homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your urgency and the specific situation of a Real Estate Owned home, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can count on Home and Hearth Appraisals LLC to take on the appraisal of your REO with expertise and professionalism. Contact us today.