REO and Foreclosure Appraisal in Broward County
Properties that have gone back to the institution's control and properties in foreclosure create special appraisal difficulties.
You should differentiate the difference between fair market value and "quick disposition" value to analyze what losses you stand to realize when dealing with a home in foreclosure. At DANIEL I KANDEL, we have the background in both supplying snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company who has the qualifications to work with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact DANIEL I KANDEL.
Specific challenges may be present when working with owners of property in foreclosure. They may be opposed to allowing an inspection of the property. If they moved out of the house already, they could have overlooked the care of the house for awhile - or even worse, caused damage to the property.
You will be interested in a fast disposition if the property has already returned to bank owned. So you need to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work done to it, with the work required to make the house marketable at full market value corresponding with competing properties in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably to someone who'd rather finish the job themselves. Again, we understand your urgency and the unique circumstances of a Real Estate Owned house, in addition to the unique data you will need -- competing listings, market trends, and so forth. You can bank on DANIEL I KANDEL to take on the appraisal of your REO professionally and efficiently. Contact us today.