Foreclosure and REO Appraisal in El Paso County
There are specific appraisal difficulties regarding a property in foreclosure or one that has gone back to the lender's possession.
For a property in foreclosure, you should know the gap between the fair market value and "quick disposition" worth to know your probable charge-off liability. The professionals at Zacour & Associates, Inc. can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your urgency.
You need a company who has the experience to handle the special dynamics of a foreclosure appraisal. Contact Zacour & Associates, Inc. for a company you can trust.
Specific challenges can be present when working with owners of properties in foreclosure. They might be disinclined to allow an inspection of the home. If they have abandoned the property already, they may have not taken care of the property for awhile - or unfortunately, ransacked the home.
If your house has already changed to bank owned, you will interested in a speedy disposition. However, you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs done to it, with the work called for to make the home marketable at full market value comparable with similar properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your urgency and the unique situation of an REO house, as well as the specific data you will need -- competing listings, market trends, and the like. You can bank on Zacour & Associates, Inc. to take on the task of your REO professionally and efficiently. Contact us today.