Foreclosure and Real Estate Owned Appraisals in Bergen County
There are various appraisal challenges regarding a home in foreclosure or one that has gone back to the institution's holding.
For a property in foreclosure, you might need to recognize the difference between fair market value and "quick disposition" worth to know your potential charge-off liability. At Gold Coast Appraisal Group LLC, we have the knowledge in both supplying snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time constraints.
Gold Coast Appraisal Group LLC has the experience to handle the unique dynamics of a foreclosure appraisal. Contact Gold Coast Appraisal Group LLC for a company you can trust.
Owners of properties in foreclosure, of course, can present unique challenges. They may be unwilling to allow an inspection of the property. If they left the property already, they may have not taken care of the home for a long time - or worse, caused damage to the home.
You'll be interested in an expedited disposition if the home has already reverted to Real Estate Owned. So you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work performed, with the work required to make the house marketable at full market value commensurate with similar real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, seemingly to someone who'd rather finish the job themselves. Again, we understand your time line and the specific circumstances of an REO property, in addition to the specific information you'll need -- competing listings, neighborhood trends, and so forth. You can count on Gold Coast Appraisal Group LLC to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.