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The California Appraisal Group is the company you should trust when you need appraisals for bank owned properties in San Diego County
Homes in foreclosure and houses that have reverted to the institution's possession bring forth specific appraisal difficulties.
You need to know the meanings of "market value" and a "quick disposition" assessment to evaluate your possible write-down liability when dealing with a property in foreclosure.
At The California Appraisal Group, we have the experience in both supplying snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that factor in your timeline.
Special challenges may be present when working with owners of property in foreclosure. They could be uncooperative to allowing an inspection of the home.
If they abandoned the property already, they could have overlooked the care of the property for some time - or even worse, ransacked the house.
For a home that has returned to Real Estate Owned, you probably will want to get rid of it quickly. In any case, you'll still want to consider three ways of looking at the value of the real estate at hand:- As Repaired. Possible market value with the work due to make the home marketable at full market value - comparable with competing houses in the area
- As-is. The market value of the house without any repairs performed
- Quick sale. With minor investment in repairs - to get rid of the home quickly, likely to someone who'd rather finish the job themselves
Again, we understand your timeline and the special circumstances of an REO home, in addition to the unique information you will need - competing listings, neighborhood trends, and the like. You can count on The California Appraisal Group to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.
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