Real Estate Owned Appraisal in Virginia Beach City CountyHomes in foreclosure and houses that have gone back to the lender's possession create particular appraisal difficulties. It's vital to differentiate the difference between fair market value and "quick disposition" worth to evaluate your likely charge-off liability when dealing with a house in foreclosure. At Appraisal Nerd, we have the background in both producing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your urgency. You need a company with the training to work with the unique dynamics of a foreclosure appraisal. Contact Appraisal Nerd for a company you can trust. Owners of property in foreclosure, of course, can present specific challenges. They could be disinclined to allow an inspection of the property. Often the houses have been vandalized, unfortunately at the hands of the former residents. Or, it's likely you'll discover a house at a minimum abandoned or the home languishing in disrepair for extended periods of time. For real estate that has already reverted to Real Estate Owned, you probably will want to get rid of it quickly . But you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work done to it, with the work needed to make the property marketable at full market value comparable with similar real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your urgency and the special situation of a bank owned home, in addition to the special data you'll need -- competing listings, market trends, and so forth. You can count on Appraisal Nerd to take on the task of your REO with expertise and professionalism. Contact us today. |