Foreclosure and Real Estate Owned Appraisals in Morris CountyHouses that have reverted to the bank's ownership and houses in foreclosure create unique appraisal problems. It's vital to know the difference between fair market price and "quick disposition" price to evaluate what losses you might sustain when dealing with a property in foreclosure. Porter Place Appraisals has the experience in both producing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line. You need a company who has the qualifications to handle the unique dynamics of a foreclosure appraisal. Contact Porter Place Appraisals for a company you can rely on. Owners of homes in foreclosure, of course, can present particular challenges. They might be disinclined to allow an inspection of the house. They might have abandoned the property already and/or neglected care of the house for quite awhile - or unfortunately, ransacked the home. If your house has changed to REO, you will interested in an expeditious disposition. But you may want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs done to it, with the work needed to make the home marketable at full market value commensurate with similar homes in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your time line and the unique circumstances of a bank owned house, in addition to the special data you'll need -- competing listings, neighborhood trends, and so forth. You can rely on Porter Place Appraisals to handle the task of your REO with expertise and professionalism. Contact us today. |