REO and Foreclosure Appraisals in Hawaii County
Houses that have gone back to the financial institution's possession and properties in foreclosure present various appraisal problems.
For a property in foreclosure, you need to recognize the gap between the fair market value and "quick disposition" value to know your potential charge-off liability. At REID E. CHOATE & ASSOCIATES, LLC, we have the knowledge in both providing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time constraints.
You need a company with the expertise to work with the unique dynamics of a foreclosure appraisal. Contact REID E. CHOATE & ASSOCIATES, LLC for a company you can rely on.
Specific challenges might be present when working with owners of properties in foreclosure. They could be disinclined to allow an inspection of the home. Often the houses show signs of vandalism, often by the former residents themselves. Or, it's common to discover a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
If your property has already gone back to bank owned, you will interested in an expedited disposition. However, you may want to know about and compare three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work done to it, with the work necessary to make the home marketable at full market value commensurate with similar houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the specific situation of a bank owned house, as well as the special data you'll need -- competing listings, neighborhood trends, and so forth. You can count on REID E. CHOATE & ASSOCIATES, LLC to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.