Foreclosure Appraisals in Maricopa County
Houses that have reverted to the institution's ownership and properties in foreclosure bring forth specific appraisal challenges.
For a house in foreclosure, you need to recognize the difference between the fair market and "quick disposition" value to know your potential charge-off liability. The professionals at Desert Sky Appraisers can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your timeline.
You need a company who has the experience to deal with the special dynamics of a foreclosure appraisal. Contact Desert Sky Appraisers for a company you can trust.
Owners of homes in foreclosure might be uncooperative to allowing an inspection of the house, thus presenting specific challenges. They may have abandoned the house already and/or overlooked the care of the house for quite awhile - or worse, intentionally harmed the home.
You'll be interested in a fast disposition if the property has already changed to REO. So you need to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the repairs called for to make the house marketable at full market value comparable with similar houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your time line and the unique situation of a bank owned property, in addition to the special information you will need -- competing listings, market trends, and so forth. You can rely on Desert Sky Appraisers to take on the task of your bank owned property professionally and efficiently. Contact us today.