Foreclosure and REO Appraisal in Denton County
There are unique appraisal problems for a home in foreclosure or one that has gone back to the financial institution's control.
You should understand the difference between fair market value and "quick disposition" worth to analyze your likely write-down liability when dealing with a home in foreclosure. At LHC Appraisals, we have the training in both supplying snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your urgency.
You need a company with the qualifications to handle the special dynamics of a foreclosure appraisal. For a company you can count on, contact LHC Appraisals.
Owners of properties in foreclosure, of course, can present special challenges. They could be unwilling to allow an inspection of the house. If they abandoned the house already, they may have ignored the care of the home for quite awhile - or worse, ransacked the house.
For a property that has already changed to bank owned, you probably will want it off your hands as quickly as possible . However, you might want to know and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the work called for to make the property marketable at full market value appropriate with the other homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the unique situation of an REO house, in addition to the special data you will need -- competing listings, market trends, and the like. You can count on LHC Appraisals to take on the task of your REO with expertise and professionalism. Contact us today.
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