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REO Appraisal in Seminole County
Properties that have returned to the bank's ownership and properties in foreclosure present various appraisal problems.
For a house in foreclosure, you definitely need to understand the difference between the market value and a "quick disposition" value to know your likely charge-off liability.
Appraising Greater Orlando, Inc. has the training in both producing snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time constraints.
Occupants of property in foreclosure might be uncooperative to allowing an inspection of the house, thus presenting unique challenges.
Sometimes the subjects have been vandalized, unfortunately by the former residents. Or, it's common to discover the previous owners have moved out or the home neglected for extended periods of time.
For real estate that has already returned to REO, you likewise will be going for a fast disposition. In any case, you'll still want to consider three angles for looking at the value of the asset (or in some cases, liability):- As Repaired. Possible market value with the repairs needed to make the house marketable at full market value - in accordance with similar houses in the neighborhood
- As-is. The value of the house without any work done to it
- Quick sale. With minimal investment in repairs - to sell the property quickly, seemingly as a "fixer-upper"
Again, we understand your timeline and the special circumstances of a Real Estate Owned home, in addition to the unique information you will need - competing listings, market trends, and the like. You can rely on Appraising Greater Orlando, Inc. to handle the task of your REO with expertise and professionalism. Contact us today.
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