Ascension Appraisal is experienced when it comes to bank owned properties in Worcester
There are special appraisal challenges involved in a property in foreclosure or one that has returned to the lender's control.
When dealing with a property in foreclosure, it's important to know the difference between fair market value and "quick disposition" price to analyze your likely charge-off liability. At Ascension Appraisal, we have the experience in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time line.
We have the qualifications to handle the particular dynamics of a foreclosure appraisal. Contact Ascension Appraisal for a company you can rely on.
Owners of dwellings in foreclosure may be uncooperative to allowing an inspection of the property, thus presenting specific challenges. Sometimes the properties have been vandalized, often at the hands of the former residents themselves. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for extended periods of time.
For a house that has already changed to bank owned, you probably will want it off your hands as quickly as possible . But you might want to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the repairs called for to make the home marketable at full market value consistent with similar homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a bank owned property, in addition to the special data you will need -- competing listings, market trends, and the like. You can rely on Ascension Appraisal to handle the task of your bank owned property professionally and efficiently. Contact us today.