Foreclosure and Real Estate Owned Appraisal in Harris County
Houses that have gone back to the institution's ownership and properties in foreclosure bring forth special appraisal difficulties.
When dealing with a house in foreclosure, it's important to differentiate the difference between fair market worth and "quick disposition" price to evaluate your possible charge-off liability. Wells & Associates Appraisal Service has the background in both producing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time constraints.
We have the qualifications to deal with the unique dynamics of a foreclosure appraisal. For a company you can trust, contact Wells & Associates Appraisal Service.
Particular challenges can be present when dealing with owners of properties in foreclosure. They may be uncooperative to allowing an inspection of the property. Sometimes the homes have been ransacked, unfortunately at the hands of the residents themselves. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for extended periods of time.
You'll be interested in a fast disposition if the home has already returned to bank owned. So you may want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any repairs performed, with the work called for to make the home marketable at full market value consistent with the other real estate in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific circumstances of an REO house, in addition to the unique information you will need -- competing listings, neighborhood trends, and the like. You can bank on Wells & Associates Appraisal Service to take on the task of your bank owned property with expertise and professionalism. Contact us today.