LHC Appraisals is experienced when it comes to foreclosures in Denton
There are particular appraisal difficulties when it comes to a property in foreclosure or one that has reverted to the institution's holding.
It's important to understand the difference between fair market value and "quick disposition" value to know your probable charge-off liability when dealing with a home in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your timeline.
We have the qualifications to deal with the particular dynamics of a foreclosure appraisal. Contact LHC Appraisals for a company you can count on.
Special challenges may be present when dealing with owners of properties in foreclosure. They may be uncooperative to allowing an inspection of the property. If they moved out of the house already, they could have not taken care of the property for quite some time - or worse, caused damage to the home.
If your house has reverted to Real Estate Owned, you will interested in a speedy disposition. However, you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any work done to it, with the repairs required to make the property marketable at full market value commensurate with similar real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the special situation of a Real Estate Owned property, as well as the specific data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on LHC Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today.
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