REO Appraisal in Duval County
There are special appraisal difficulties when it comes to a home in foreclosure or one that has gone back to the financial institution's ownership.
It's important to recognize the difference between fair market price and "quick disposition" value to analyze your likely charge-off liability when dealing with a property in foreclosure. At Personal Service Realty's Residential Valuation Group, we have the training in both providing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company with the training to deal with the unique dynamics of a foreclosure appraisal. Contact Personal Service Realty's Residential Valuation Group for a company you can rely on.
Unique challenges can be present when working with owners of homes in foreclosure. They might be unwilling to allow an inspection of the home. Sometimes the subjects show signs of vandalism, unfortunately at the hands of the residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long of time.
You will be interested in a speedy disposition if the house has gone back to Real Estate Owned. So you might want to know about and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any work done to it, with the repairs needed to make the property marketable at full market value corresponding with similar properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned house, as well as the specific data you will need -- competing listings, market trends, and the like. You can rely on Personal Service Realty's Residential Valuation Group to take on the task of your bank owned property professionally and efficiently. Contact us today.
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