REO and Foreclosure Appraisal in Berks County
Homes in foreclosure and homes that have reverted to the financial institution's control bring forth particular appraisal problems.
When dealing with a house in foreclosure, it's important to recognize the difference between fair market price and "quick disposition" price to evaluate your possible charge-off liability. At Brightco Appraisal Services LLC., we have the background in both producing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time line.
You need a company who has the qualifications to deal with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact Brightco Appraisal Services LLC..
Owners of homes in foreclosure, of course, can present special challenges. They could be uncooperative to allowing an inspection of the home. They might have moved out of the house already and/or overlooked the care of the property for quite some time - or gone as far as intentionally harmed the house.
You will be interested in an expedited disposition if the property has changed to bank owned. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the repairs necessary to make the property marketable at full market value comparable with the other homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your time line and the unique circumstances of a Real Estate Owned property, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can count on Brightco Appraisal Services LLC. to take on the task of your REO with expertise and professionalism. Contact us today.