Real Estate Owned and Foreclosure Appraisals in Broward County
There are unique appraisal challenges regarding a house in foreclosure or one that has gone back to the financial institution's ownership.
For a property in foreclosure, you need to understand the gap between fair market price and "quick disposition" to know your probable charge-off liability. At DANIEL I KANDEL, we have the knowledge in both furnishing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your urgency.
You need a company who has the training to deal with the unique dynamics of a foreclosure appraisal. Contact DANIEL I KANDEL for a company you can trust.
Occupants of property in foreclosure may be uncooperative to allowing an inspection of the home, thus presenting special challenges. Often the homes have been ransacked, unfortunately at the hands of the residents. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for long of time.
You'll be interested in a quick disposition if the house has returned to bank owned. So you might want to know and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any repairs done to it, with the repairs needed to make the house marketable at full market value corresponding with competing properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the special situation of a Real Estate Owned home, in addition to the special information you will need -- competing listings, market trends, and the like. You can bank on DANIEL I KANDEL to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.