REO and Foreclosure Appraisals in King County
There are various appraisal difficulties for a property in foreclosure or one that has gone back to the institution's ownership.
For a home in foreclosure, you should know the gap between fair market price and "quick disposition" worth to know your probable charge-off liability. VanderWaal Appraisal Group has the experience in both supplying snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into consideration your timeline.
The professionals at VanderWaal Appraisal Group have the experience to work with the special dynamics of a foreclosure appraisal. For a company you can count on, contact VanderWaal Appraisal Group.
Occupants of homes in foreclosure may be unwilling to allow an inspection of the house, thus presenting special challenges. Sometimes the subjects show signs of vandalism, unfortunately by the residents themselves. Or, it's likely you'll find nobody has lived in house for months or the home languishing in disrepair for extended periods of time.
If your home has already changed to bank owned, you will interested in a quick disposition. However, you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs done to it, with the work needed to make the property marketable at full market value comparable with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your timeline and the unique circumstances of an REO home, in addition to the specific information you will need -- competing listings, neighborhood trends, and so forth. You can count on VanderWaal Appraisal Group to handle the task of your bank owned property with expertise and professionalism. Contact us today.