REO and Foreclosure Appraisals in El Paso County
There are special appraisal problems involved in a house in foreclosure or one that has gone back to the financial institution's holding.
When dealing with a property in foreclosure, you need to understand the difference between fair market value and "quick disposition" value to know your likely charge-off liability. Zacour & Associates, Inc. has the experience in both providing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your time line.
You need a company with the expertise to work with the particular dynamics of a foreclosure appraisal. Contact Zacour & Associates, Inc. for a company you can trust.
Owners of property in foreclosure, of course, can present special challenges. They might be unwilling to allow an inspection of the house. They might have deserted the house already and/or overlooked the care of the home for quite awhile - or even worse, damaged the home.
For a property that has reverted to Real Estate Owned, you typically will want it off your hands as quickly as possible . However, you might want to know and analyze 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 called for to make the home marketable at full market value consistent with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the unique circumstances of a Real Estate Owned property, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can rely on Zacour & Associates, Inc. to handle the task of your bank owned property with expertise and professionalism. Contact us today.