Real Estate Owned and Foreclosure Appraisal in Monmouth County
Houses in foreclosure and houses that have returned to the lender's control present specific appraisal problems.
For a property in foreclosure, you should know the difference between the fair market and "quick disposition" value to know your potential charge-off liability. At Maffeo-Kelly Appraisal Co., LLC, we have the training in both providing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time constraints.
The professionals at Maffeo-Kelly Appraisal Co., LLC have the expertise to work with the special dynamics of a foreclosure appraisal. Contact Maffeo-Kelly Appraisal Co., LLC for a company you can count on.
Specific challenges can be present when dealing with owners of property in foreclosure. They might be unwilling to allow an inspection of the home. If they abandoned the house already, they could have neglected care of the house for some time - or worse, caused damage to the property.
For a property that has already reverted to Real Estate Owned, you typically will want to get rid of it quickly . However, you may want to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any repairs done to it, with the repairs required to make the property marketable at full market value comparable with competing homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your timeline and the specific circumstances of a Real Estate Owned home, as well as the special information you'll need -- competing listings, market trends, and the like. You can bank on Maffeo-Kelly Appraisal Co., LLC to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.