REO Appraisals in El Paso County
There are specific appraisal problems involved in a property in foreclosure or one that has gone back to the financial institution's holding.
For a house in foreclosure, you might need to recognize the gap between the fair market and "quick disposition" price to know your possible charge-off liability. 4720 Enterprises, Inc. has the experience in both presenting snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time line.
The professionals at 4720 Enterprises, Inc. have the expertise to work with the special dynamics of a foreclosure appraisal. Contact 4720 Enterprises, Inc. for a company you can count on.
Owners of houses in foreclosure, of course, can present specific challenges. They could be opposed to allowing an inspection of the house. Often the houses have been vandalized, often by the residents themselves. Or, it's likely you'll find the residents have moved out or the home languishing in disrepair for long of time.
You'll be interested in a speedy disposition if the property has gone back to REO. So you need to know and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs done to it, with the work required to make the home marketable at full market value corresponding with competing houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of an REO home, in addition to the special data you'll need -- competing listings, neighborhood trends, and so forth. You can count on 4720 Enterprises, Inc. to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.