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REO Appraisal in Douglas County
Homes that have gone back to the institution's ownership and properties in foreclosure bring forth special appraisal difficulties.
It's key to understand the meanings of "market value" and a "quick disposition" value to analyze your possible charge-off liability when dealing with a property in foreclosure.
The professionals at Powers Real Estate Services, LLC can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your pressing needs.
Specific challenges may be present when working with owners of property in foreclosure. They could be uncooperative to allowing an inspection of the property.
Sometimes the properties have been vandalized, unfortunately at the hands of the former residents. Or, it's likely you'll find the previous owners have moved out or the home languishing in disrepair for extended periods of time.
You will be interested in a fast disposition if the property has already reverted to bank owned. So you might want to understand and analyze three values: "as-is", "as repaired", and "quick sale". These correspond to: - The value of the house without any work done to it
- Value with the work due to make the home marketable at full market value - commensurate with other properties in the area
- Somewhere in between, with minor investment in repairs - to get rid of the property quickly, possibly to someone who'd prefer to finish the job themselves
Again, we understand your time line and the specific situation of a bank owned home, as well as the specific data you'll need - competing listings, neighborhood trends, and the like. You can count on Powers Real Estate Services, LLC to take on the task of your bank owned property with expertise and professionalism. Contact us today.
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