Call Precision Appraisal & Review to discuss valuations on Wayne foreclosures

Foreclosure and REO Appraisal in Wayne & Monroe County

Homes that have returned to the bank's possession and homes in foreclosure bring forth special appraisal problems.

When there is a house in foreclosure, it's important to understand market value versus a "quick disposition" assessment to analyze your probable charge-off liability. At Precision Appraisal & Review, we have the background in both presenting snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your timeline.

You need a company who has the expertise to handle the particular dynamics of a foreclosure appraisal. Contact Precision Appraisal & Review for a company you can count on.

Owners of property in foreclosure, naturally, can present special challenges. They might be combative when it comes to allowing an inspection of the house. Sometimes the houses show signs of vandalism, often at the hands of the residents themselves. Or, it's likely you'll discover the families have moved out or the home neglected for extended periods of time.

For real estate that has changed to bank owned, you typically will want to get rid of it quickly. In any case, you'll still want to consider three ways of looking at the value of the asset:

  • As Repaired. Value with the work necessary to make the home marketable at full market value - comparable with similar real estate in the neighborhood
  • As-is. The value of the house without any repairs performed
  • Quick sale. Somewhere in the middle, with minor investment in repairs - to get rid of the home quickly, possibly as a "fixer-upper"
Again, we understand your timeline and the special circumstances of a Real Estate Owned house, in addition to the special data you will need - competing listings, market trends, and so forth. You can rely on Precision Appraisal & Review to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.