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Real Estate Owned Appraisal in Hartford County
Homes that have gone back to the institution's possession and houses in foreclosure present particular appraisal difficulties.
For a house in foreclosure, you need to know the gap between market price and a "quick disposition" to know your probable charge-off liability.
KDR Appraisal Services has the training in both supplying snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time constraints.
Owners of homes in foreclosure can present specific challenges. For example, they might be unwilling to allow us access to the home.
They could have abandoned the home already and/or ignored the care of the home for quite some time - or in some cases intentionally harmed the house.
You'll be interested in an expedited disposition if the property has changed to bank owned. So you need to understand and examine three values: "as-is", "as repaired", and "quick sale". These represent: - The value of the home without any work performed
- Value with the work due to make the house marketable at full market value - in accordance with competing homes in the neighborhood
- With minimal investment in repairs - to sell the property quickly, seemingly as a "fixer-upper"
Again, we understand your urgency and the specific situation of an REO house, in addition to the specific information you will need - competing listings, neighborhood trends, and the like. You can count on KDR Appraisal Services to take on the appraisal of your REO professionally and efficiently. Contact us today.
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