Foreclosure and Real Estate Owned Appraisals in El Paso County
Properties that have gone back to the financial institution's holding and homes in foreclosure present various appraisal challenges.
For a home in foreclosure, you should understand the difference between fair market price and "quick disposition" value to know your possible charge-off liability. GDB Appraisal Services, Inc has the experience in both furnishing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that respect your urgency.
GDB Appraisal Services, Inc has the training to work with the unique dynamics of a foreclosure appraisal. Contact GDB Appraisal Services, Inc for a company you can trust.
Unique challenges can be present when working with owners of homes in foreclosure. They could be uncooperative to allowing an inspection of the house. If they deserted the home already, they could have overlooked the care of the property for quite awhile - or worse, ransacked the house.
You will be interested in a fast disposition if the home has already changed to REO. So you may want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work done to it, with the repairs needed to make the home marketable at full market value corresponding with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your urgency and the special situation of a bank owned house, as well as the specific information you will need -- competing listings, neighborhood trends, and the like. You can count on GDB Appraisal Services, Inc to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.