REO and Foreclosure Appraisals in Broward County
There are various appraisal challenges involved in a property in foreclosure or one that has returned to the institution's control.
When there is a home in foreclosure, it's important to know the difference between fair market price and "quick disposition" value to evaluate your possible charge-off liability. At DANIEL I KANDEL, we have the experience in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency.
You need a company who has the expertise to deal with the specific dynamics of a foreclosure appraisal. Contact DANIEL I KANDEL for a company you can rely on.
Unique challenges might be present when working with owners of homes in foreclosure. They might be disinclined to allow an inspection of the home. Often the houses have been intentionally damaged, unfortunately by the former residents themselves. Or, it's common to discover the families have moved out or the home neglected for extended periods of time.
You'll be interested in a fast disposition if the home has already gone back to bank owned. So you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any repairs performed, with the repairs called for to make the home marketable at full market value consistent with similar houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone who'd prefer to finish the job themselves. Again, we understand your urgency and the specific circumstances of a Real Estate Owned house, as well as the special data you will need -- competing listings, neighborhood trends, and the like. You can rely on DANIEL I KANDEL to take on the task of your REO professionally and efficiently. Contact us today.