Foreclosure and REO Appraisal in Larimer County
Real Estate in foreclosure and homes that have reverted to the bank's possession present special appraisal problems.
When there is a property in foreclosure, you need to understand the difference between fair market price and "quick disposition" price to evaluate your potential charge-off liability. At Tri-County Appraisals, we have the training in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
You need a company who has the expertise to work with the specific dynamics of a foreclosure appraisal. Contact Tri-County Appraisals for a company you can trust.
Owners of homes in foreclosure, of course, can present unique challenges. They might be disinclined to allow an inspection of the property. If they have abandoned the house already, they may have overlooked the care of the house for awhile - or worse, damaged the home.
You will be interested in a quick disposition if the home has reverted to bank owned. So you need to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work done to it, with the repairs required to make the house marketable at full market value consistent with competing houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific situation of a bank owned home, in addition to the specific information you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Tri-County Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today.