Foreclosure and REO Appraisal in Wake CountyHomes that have gone back to the institution's possession and houses in foreclosure bring forth specific appraisal difficulties. For a home in foreclosure, you should know the difference between fair market price and "quick disposition" to know your possible charge-off liability. At Watson Appraisal Services, Inc, we have the background in both providing snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time line. You need a company who has the expertise to handle the special dynamics of a foreclosure appraisal. Contact Watson Appraisal Services, Inc for a company you can rely on. Specific challenges can be present when dealing with owners of property in foreclosure. They might be disinclined to allow an inspection of the property. Sometimes the houses show signs of vandalism, often 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. You will be interested in a speedy disposition if the property has already changed to Real Estate Owned. So you need to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any repairs performed, with the repairs called for to make the home marketable at full market value commensurate with competing properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly to someone who'd prefer to finish the job themselves. Again, we understand your time line and the special situation of an REO home, as well as the unique data you will need -- competing listings, neighborhood trends, and the like. You can bank on Watson Appraisal Services, Inc to handle the appraisal of your bank owned property professionally and efficiently. Contact us today. |