REO Appraisal in New Jersey
There are various appraisal challenges for a property in foreclosure or one that has gone back to the lender's holding.
When dealing with a house in foreclosure, it's important to know the difference between fair market worth and "quick disposition" value to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your time constraints.
You need a company who has the expertise to deal with the special dynamics of a foreclosure appraisal. Contact Tight & Right Real Estate Valuation for a company you can count on.
Specific challenges might be present when working with owners of property in foreclosure. They may be disinclined to allow an inspection of the house. If they deserted the property already, they may have overlooked the care of the home for awhile - or unfortunately, ransacked the home.
If your house has changed to bank owned, you will interested in a fast disposition. But you may want to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work performed, with the repairs needed to make the property marketable at full market value consistent with competing homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your timeline and the special circumstances of a bank owned property, in addition to the special data you'll need -- competing listings, neighborhood trends, and the like. You can count on Tight & Right Real Estate Valuation to handle the appraisal of your REO professionally and efficiently. Contact us today.
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