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Real Estate Owned Appraisals in Montgomery County
Properties in foreclosure and houses that have reverted to the lender's control create special appraisal challenges.
It's vital to know the meanings of "market value" and a "quick disposition" assessment to know your potential write-down liability when dealing with a property in foreclosure.
We can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time line.
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You need a company with the qualifications to handle the unique dynamics of a foreclosure appraisal. Contact R.M. Rose for a company you can rely on. |
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Specific challenges may be present when dealing with owners of homes in foreclosure. They may be disinclined to allow an inspection of the house.
They could have left the house already and/or overlooked the care of the property for a long time - or gone as far as caused damage to the home.
For a house that has changed to Real Estate Owned, you most likely will be interested in a speedy disposition. Regardless, you'll still want to consider three ways of determining the value of the asset:- As Repaired. Value with the repairs needed to make the property marketable at full market value - comparable with similar homes in the neighborhood
- As-is. The market value of the house without any work done to it
- Quick sale. Somewhere in between, with minor investment in repairs - to sell the property quickly, seemingly as a "fixer-upper"
Again, we understand your timeline and the unique situation of an REO property, in addition to the special information you'll need - competing listings, neighborhood trends, and so forth. You can count on R.M. Rose to take on the task of your REO professionally and efficiently. Contact us today.
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