Real Estate Owned and Foreclosure Appraisal in Parker County and surrounding areas
There are various appraisal difficulties for a property in foreclosure or one that has returned to the bank's possession.
It's important to differentiate the difference between fair market price and "quick disposition" value to analyze what losses you stand to realize when dealing with a property in foreclosure. At PAYNE Appraisal, LLC, we have the knowledge in both producing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time line.
PAYNE Appraisal, LLC has the experience to handle the unique dynamics of a foreclosure appraisal.
Occupants of properties in foreclosure could be disinclined to allow an inspection of the property, thus presenting unique challenges. If they left the house already, they might have ignored the care of the property for quite some time - or unfortunately, caused damage to the house.
For real estate that has reverted to Real Estate Owned, you most likely will want it off your hands as quickly as possible . But you may want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any repairs performed, with the repairs due to make the house marketable at full market value appropriate with similar houses 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 timeline and the special circumstances of a bank owned home, as well as the special data you'll need -- competing listings, neighborhood trends, and the like. You can rely on PAYNE Appraisal, LLC to handle the task of your REO with expertise and professionalism. Contact us today.