Real Estate Owned and Foreclosure Appraisal in Harris CountyThere are various appraisal problems when we're talking about a house in foreclosure or one that has returned to the institution's possession. When dealing with a home in foreclosure, it's important to recognize the difference between fair market value and "quick disposition" value to analyze your likely charge-off liability. At Wells & Associates Appraisal Service, we have the knowledge in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your timeline. Wells & Associates Appraisal Service has the expertise to handle the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Wells & Associates Appraisal Service. Special challenges can be present when working with owners of houses in foreclosure. They might be opposed to allowing an inspection of the property. Often the properties show signs of vandalism, unfortunately at the hands of the residents themselves. Or, it's likely you'll find the previous owners have moved out or the home languishing in disrepair for long of time. You will be interested in a speedy disposition if the property has reverted to REO. So you might want to know and compare three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs done to it, with the work needed to make the home marketable at full market value comparable with competing real estate in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely to someone who'd rather finish the job themselves. Again, we understand your urgency and the special situation of a bank owned property, in addition to the unique information you'll need -- competing listings, market trends, and the like. You can bank on Wells & Associates Appraisal Service to handle the appraisal of your REO with expertise and professionalism. Contact us today. |