REO and Foreclosure Appraisals in Erie CountyThere are unique appraisal challenges regarding a property in foreclosure or one that has gone back to the lender's control. For a home in foreclosure, you may need to recognize the gap between fair market and "quick disposition" value to know your potential charge-off liability. At Arlet Appraisal Services, Inc., we have the knowledge in both supplying snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time constraints. The professionals at Arlet Appraisal Services, Inc. have the qualifications to handle the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Arlet Appraisal Services, Inc.. Owners of property in foreclosure might be opposed to allowing an inspection of the home, thus presenting special challenges. If they have abandoned the house already, they may have overlooked the care of the home for a long time - or even worse, ransacked the house. For a home that has already returned to Real Estate Owned, you typically will want to get rid of it quickly . But you may want to understand and examine 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 needed to make the home marketable at full market value consistent with competing properties in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly to someone who'd rather finish the job themselves. Again, we understand your timeline and the special circumstances of a bank owned home, in addition to the specific data you will need -- competing listings, market trends, and so forth. You can count on Arlet Appraisal Services, Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today. |