Foreclosure Appraisal in Salt Lake County
Houses in foreclosure and properties that have reverted to the bank's possession present various appraisal problems.
It's key to know the difference between fair market price and "quick disposition" price to evaluate what losses you stand to realize when dealing with a property in foreclosure. Salt Lake Appraising Company has the training in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your urgency.
You need a company with the training to deal with the special dynamics of a foreclosure appraisal. For a company you can trust, contact Salt Lake Appraising Company.
Owners of property in foreclosure could be opposed to allowing an inspection of the home, thus presenting specific challenges. If they have abandoned the home already, they may have overlooked the care of the home for awhile - or even worse, caused damage to the house.
For real estate that has already reverted to bank owned, you typically will want it off your hands as quickly as possible . However, you might want to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work performed, with the work needed to make the home marketable at full market value consistent with competing properties in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone who'd rather finish the job themselves. Again, we understand your time line and the special situation of a Real Estate Owned home, in addition to the unique data you'll need -- competing listings, market trends, and so forth. You can rely on Salt Lake Appraising Company to handle the appraisal of your REO with expertise and professionalism. Contact us today.