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REID E. CHOATE & ASSOCIATES, LLC is experienced when it comes to bank owned properties in Pahoa, Hawaii
Houses that have gone back to the bank's control and properties in foreclosure create particular appraisal challenges.
When there is a house in foreclosure, you should ascertain market value versus a "quick disposition" price to evaluate your possible charge-off liability.
At REID E. CHOATE & ASSOCIATES, LLC, we have the background in both furnishing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time constraints.
Owners of properties in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting particular challenges.
They could have abandoned the property already and/or ignored the care of the property for some time - or even worse, vandalized the house.
You'll be interested in a quick disposition if the house has returned to Real Estate Owned. So you may want to know and compare three values: "as-is", "as repaired", and "quick sale". These correspond to: - The value of the house without any repairs done to it
- Possible value with the work required to make the home marketable at full market value - in accordance with other homes in the area
- With minor investment in repairs - to offload the property quickly, probably to someone who'd rather finish the job themselves
Again, we understand your time line and the specific circumstances of a Real Estate Owned home, in addition to the specific data you'll need - competing listings, market trends, and the like. You can rely on REID E. CHOATE & ASSOCIATES, LLC to handle the task of your bank owned property with expertise and professionalism. Contact us today.
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