Compass Appraisal is a company you can trust when it comes to bank owned properties.Homes in foreclosure and properties that have returned to the financial institution's control bring forth special appraisal challenges. For a house in foreclosure, you need to recognize the difference between the fair market worth and "quick disposition" price to know your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your timeline. You need a company with the experience to deal with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact Compass Appraisal. Owners of houses in foreclosure, of course, can present special challenges. They may be uncooperative to allowing an inspection of the house. If they moved out of the house already, they could have overlooked the care of the house for a long time - or even worse, caused damage to the house. You'll be interested in a fast disposition if the home has gone back to REO. So you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work necessary to make the house marketable at full market value commensurate with the other houses in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your timeline and the special circumstances of an REO house, as well as the unique information you will need -- competing listings, neighborhood trends, and so forth. You can bank on Compass Appraisal Inc. to take on the task of your REO with expertise and professionalism. Contact us today. |