REO Appraisals in Morris County
Houses that have gone back to the bank's ownership and houses in foreclosure bring forth various appraisal problems.
For a home in foreclosure, you may need to know the gap between the fair market worth and "quick disposition" value to know your probable charge-off liability. Burwan Appraisal Services has the experience in both presenting snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your timeline.
You need a company who has the training to work with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Burwan Appraisal Services.
Specific challenges might be present when working with owners of properties in foreclosure. They may be opposed to allowing an inspection of the home. If they left the property already, they might have ignored the care of the house for some time - or unfortunately, caused damage to the property.
For a property that has already gone back to REO, you typically will want it off your hands as quickly as possible . But you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the home without any repairs performed, with the work required to make the house marketable at full market value commensurate with the other properties in the neighborhood, 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 special situation of a Real Estate Owned home, in addition to the special data you will need -- competing listings, neighborhood trends, and the like. You can count on Burwan Appraisal Services to take on the task of your REO professionally and efficiently. Contact us today.