Zacour & Associates, Inc. is experienced when it comes to bank owned properties in El Paso
There are unique appraisal challenges for a house in foreclosure or one that has reverted to the financial institution's ownership.
For a house in foreclosure, you may need to understand the difference between fair market and "quick disposition" to know your potential charge-off liability. The professionals at Zacour & Associates, Inc. can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your time line.
You need a company with the expertise to work with the specific dynamics of a foreclosure appraisal. Contact Zacour & Associates, Inc. for a company you can trust.
Owners of properties in foreclosure may be opposed to allowing an inspection of the property, thus presenting specific challenges. Sometimes the homes have been vandalized, often by the residents. Or, it's common to discover nobody has lived in house for months or the home neglected for extended periods of time.
You will be interested in a quick disposition if the property has returned to bank owned. So you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work done to it, with the work called for to make the house marketable at full market value commensurate with similar homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the specific situation of an REO house, as well as the unique information you will need -- competing listings, neighborhood trends, and so forth. You can rely on Zacour & Associates, Inc. to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.