Foreclosure and Real Estate Owned Appraisals in Washington CountyProperties in foreclosure and houses that have gone back to the lender's holding create specific appraisal problems. It's vital to understand the difference between fair market price and "quick disposition" value to know your probable charge-off liability when dealing with a property in foreclosure. The professionals at Arkansas Appraisals can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your urgency. You need a company with the training to work with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Arkansas Appraisals. Specific challenges can be present when dealing with owners of properties in foreclosure. They might be disinclined to allow an inspection of the property. Sometimes the houses show signs of vandalism, unfortunately at the hands of the residents themselves. Or, it's common to find the families have moved out or the home languishing in disrepair for extended periods of time. For real estate that has already changed to REO, you most likely will want it off your hands as quickly as possible . However, you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work performed, with the work called for to make the property marketable at full market value commensurate with similar houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the specific situation of an REO house, as well as the unique data you'll need -- competing listings, market trends, and the like. You can bank on Arkansas Appraisals to take on the task of your REO professionally and efficiently. Contact us today. |