REO Appraisal in Queens County
Houses in foreclosure and homes that have returned to the financial institution's ownership present various appraisal challenges.
For a property in foreclosure, you should know the gap between the fair market value and "quick disposition" price to know your probable charge-off liability. We can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your timeline.
The professionals at Sirius Appraisal Services have the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Sirius Appraisal Services for a company you can trust.
Particular challenges can be present when working with owners of property in foreclosure. They might be disinclined to allow an inspection of the property. Often the subjects have been vandalized, often at the hands of the former residents themselves. Or, it's likely you'll find a house at a minimum abandoned or the home neglected for extended periods of time.
You'll be interested in a speedy disposition if the home has changed to REO. So you need to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any repairs done to it, with the repairs necessary to make the property marketable at full market value comparable with competing homes in the neighborhood, 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 unique situation of a Real Estate Owned house, as well as the specific information you will need -- competing listings, neighborhood trends, and the like. You can rely on Sirius Appraisal Services to take on the task of your bank owned property with expertise and professionalism. Contact us today.
Home Status Report
Want to know if a home is still on the market, or if the price has changed? We can help. Simply fill out the information below and with no obligation to you we'll get back to you with your requested information. We guarantee your privacy.