Foreclosure and REO Appraisals in Maricopa County
Houses in foreclosure and houses that have gone back to the bank's holding create specific appraisal difficulties.
It's key to ascertain the difference between fair market price and "quick disposition" value to know what losses you might have to endure when dealing with a house in foreclosure. West Valley Appraisal Services has the knowledge in both presenting snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your time constraints.
We have the expertise to deal with the special dynamics of a foreclosure appraisal. Contact West Valley Appraisal Services for a company you can trust.
Unique challenges might be present when dealing with owners of houses in foreclosure. They might be unwilling to allow an inspection of the house. Sometimes the houses show signs of vandalism, often by the residents themselves. Or, it's likely you'll find a house at least abandoned or the home neglected for extended periods of time.
You'll be interested in a speedy disposition if the house has already changed to REO. So you may want to know about and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work done to it, with the work required to make the home marketable at full market value comparable with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your time line and the special situation of a Real Estate Owned home, as well as the specific data you'll need -- competing listings, neighborhood trends, and the like. You can count on West Valley Appraisal Services to take on the task of your REO with expertise and professionalism. Contact us today.