REO and Foreclosure Appraisals in Worcester County
There are unique appraisal difficulties involved in a home in foreclosure or one that has gone back to the institution's control.
For a house in foreclosure, you might need to recognize the gap between fair market price and "quick disposition" worth to know your probable charge-off liability. Ascension Appraisal has the background in both providing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your timeline.
We have the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Ascension Appraisal for a company you can count on.
Owners of properties in foreclosure, of course, can present unique challenges. They could be opposed to allowing an inspection of the house. They may have moved out of the property already and/or overlooked the care of the property for quite some time - or even worse, vandalized the home.
You'll be interested in a fast disposition if the home has already changed to REO. So you may want to know and compare three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any repairs done to it, with the repairs needed to make the house marketable at full market value commensurate with competing real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your timeline and the unique situation of a bank owned house, in addition to the special information you'll need -- competing listings, market trends, and the like. You can rely on Ascension Appraisal to handle the task of your bank owned property with expertise and professionalism. Contact us today.