Foreclosure and Real Estate Owned Appraisal in Montgomery County
Properties that have reverted to the bank's ownership and properties in foreclosure present special appraisal challenges.
For a house in foreclosure, you need to understand the gap between the fair market price and "quick disposition" value to know your potential charge-off liability. The professionals at Castle Appraisal Service can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time line.
The professionals at Castle Appraisal Service have the qualifications to handle the unique dynamics of a foreclosure appraisal. Contact Castle Appraisal Service for a company you can rely on.
Special challenges may be present when dealing with owners of homes in foreclosure. They may be disinclined to allow an inspection of the property. Often the properties show signs of vandalism, often at the hands of the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long of time.
For real estate that has already gone back to bank owned, you typically will want it off your hands as quickly as possible . However, you may want to know and compare three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any repairs performed, with the work needed to make the property marketable at full market value commensurate with competing houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your timeline and the special situation of a bank owned home, as well as the special data you will need -- competing listings, neighborhood trends, and the like. You can bank on Castle Appraisal Service to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.