REO Appraisal in Maricopa County
There are particular appraisal problems regarding a house in foreclosure or one that has gone back to the lender's ownership.
For a house in foreclosure, you should know the difference between fair market worth and "quick disposition" value to know your likely charge-off liability. At Phoenix Valuations, LLC, we have the knowledge in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
The professionals at Phoenix Valuations, LLC have the experience to work with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact Phoenix Valuations, LLC.
Owners of property in foreclosure might be unwilling to allow an inspection of the home, thus presenting unique challenges. Often the homes show signs of vandalism, unfortunately at the hands of the residents. Or, it's likely you'll discover a house at a minimum abandoned or the home languishing in disrepair for long of time.
For a home that has reverted to bank owned, you most likely will want to get rid of it quickly . But you might want to understand and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any work done to it, with the repairs necessary to make the property marketable at full market value consistent with competing real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves. Again, we understand your time line and the specific circumstances of a bank owned home, in addition to the special information you'll need -- competing listings, market trends, and so forth. You can bank on Phoenix Valuations, LLC to take on the task of your bank owned property professionally and efficiently. Contact us today.