Carlos Vasallo, P.A. is the company you should trust when you need appraisals for bank owned properties in Collier CountyThere are special appraisal challenges regarding a home in foreclosure or one that has reverted to the bank's possession.
It's vital to ascertain the meanings of "market value" and a "quick disposition" value to analyze your probable write-down liability when dealing with a house in foreclosure. We can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time line.
Owners of property in foreclosure, naturally, can present specific challenges. For example, they may be disinclined to allow the appraiser access to the house. They might have abandoned the house already and/or neglected care of the house for quite awhile - or unfortunately, ransacked the property.
For a house that has reverted to Real Estate Owned, you most likely will be interested in a quick disposition. Regardless, you'll still want to consider three ways of figuring the value of the asset (or in some cases, liability):