Real Estate Owned and Foreclosure Appraisals in New Haven CountyThere are special appraisal challenges involved in a property in foreclosure or one that has returned to the institution's holding. It's important to differentiate the difference between fair market value and "quick disposition" price to analyze what losses you might have to endure when dealing with a home in foreclosure. We can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your urgency. JoAnn Ray Appraisal has the expertise to handle the unique dynamics of a foreclosure appraisal. For a company you can count on, contact JoAnn Ray Appraisal. Occupants of property in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting special challenges. If they moved out of the property already, they might have neglected care of the property for quite some time - or worse, damaged the home. You'll be interested in a speedy disposition if the home has already changed to REO. So you need to know and review three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any work performed, with the work needed to make the property marketable at full market value corresponding with similar houses in the neighborhood, and, somewhere in the middle, 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 Real Estate Owned home, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can count on JoAnn Ray Appraisal to handle the task of your bank owned property professionally and efficiently. Contact us today. |