Foreclosure and REO Appraisals in El Paso County
Real Estate in foreclosure and homes that have reverted to the bank's possession bring forth specific appraisal difficulties.
For a property in foreclosure, you need to know the gap between the fair market and "quick disposition" worth to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time line.
We have the training to deal with the unique dynamics of a foreclosure appraisal. Contact Zacour & Associates, Inc. for a company you can rely on.
Unique challenges might be present when dealing with owners of property in foreclosure. They might be uncooperative to allowing an inspection of the property. If they left the property already, they may have ignored the care of the house for a long time - or worse, caused damage to the house.
For a house that has returned to bank owned, you most likely will want it off your hands as quickly as possible . However, you may want to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the repairs necessary to make the home marketable at full market value commensurate with competing homes in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the special circumstances of a Real Estate Owned home, as well as the unique information you will need -- competing listings, market trends, and the like. You can count on Zacour & Associates, Inc. to handle the task of your REO professionally and efficiently. Contact us today.