Foreclosure Appraisals in El Paso County
There are special appraisal difficulties regarding a home in foreclosure or one that has gone back to the bank's control.
It's vital to know the difference between fair market value and "quick disposition" price to analyze your potential write-down liability when dealing with a home in foreclosure. At Zacour & Associates, Inc., we have the background in both furnishing snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time line.
Zacour & Associates, Inc. has the training to deal with the special dynamics of a foreclosure appraisal. Contact Zacour & Associates, Inc. for a company you can trust.
Particular challenges may be present when working with owners of homes in foreclosure. They could be unwilling to allow an inspection of the home. Often the properties show signs of vandalism, unfortunately at the hands of the former residents. Or, it's common to discover nobody has occupied the house for months or the home neglected for extended periods of time.
If your home has reverted to bank owned, you will interested in a quick disposition. But you may want to understand 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 repairs called for to make the property marketable at full market value commensurate with competing properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your urgency and the unique situation of an REO house, in addition to the special data you will need -- competing listings, neighborhood trends, and the like. You can rely on Zacour & Associates, Inc. to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.