Foreclosure and REO Appraisal in Maricopa County
There are unique appraisal difficulties regarding a house in foreclosure or one that has reverted to the financial institution's control.
When dealing with a property in foreclosure, you should recognize the difference between fair market price and "quick disposition" price to know your likely charge-off liability. At Northern Arizona Appraisal, Inc., we have the training in both furnishing snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company with the experience to handle the particular dynamics of a foreclosure appraisal. Contact Northern Arizona Appraisal, Inc. for a company you can count on.
Particular challenges can be present when dealing with owners of properties in foreclosure. They may be disinclined to allow an inspection of the property. They could have abandoned the home already and/or overlooked the care of the home for quite some time - or even worse, intentionally harmed the home.
For a house that has already reverted to Real Estate Owned, you probably will want it off your hands as quickly as possible . But you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any work done to it, with the repairs called for to make the home marketable at full market value commensurate with the other real estate in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the specific situation of a Real Estate Owned home, in addition to the special information you will need -- competing listings, neighborhood trends, and the like. You can rely on Northern Arizona Appraisal, Inc. to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.