Foreclosure and Real Estate Owned Appraisal in Hawaii County
There are particular appraisal difficulties for a home in foreclosure or one that has returned to the lender's possession.
It's important to recognize the difference between fair market price and "quick disposition" value to know your probable charge-off liability when dealing with a home in foreclosure. The professionals at REID E. CHOATE & ASSOCIATES, LLC can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your urgency.
The professionals at REID E. CHOATE & ASSOCIATES, LLC have the qualifications to work with the unique dynamics of a foreclosure appraisal. Contact REID E. CHOATE & ASSOCIATES, LLC for a company you can count on.
Unique challenges can be present when dealing with owners of homes in foreclosure. They could be opposed to allowing an inspection of the property. They might have moved out of the property already and/or neglected care of the home for a long time - or even worse, damaged the home.
You will be interested in an expedited disposition if the house has gone back to Real Estate Owned. So you need to know about and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any work performed, with the work needed to make the property marketable at full market value comparable with competing houses in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your time line and the specific situation of an REO property, in addition to the special information you'll need -- competing listings, neighborhood trends, and the like. You can bank on REID E. CHOATE & ASSOCIATES, LLC to take on the appraisal of your REO with expertise and professionalism. Contact us today.