New York Appraisal is a company you can trust when you need appraisals for bank owned properties in RocklandHouses that have reverted to the institution's possession and houses in foreclosure create special appraisal problems. For a property in foreclosure, you might need to recognize the difference between fair market price and "quick disposition" value to know your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your time constraints. You need a company with the experience to deal with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact New York Appraisal. Owners of property in foreclosure might be opposed to allowing an inspection of the house, thus presenting specific challenges. If they left the property already, they might have overlooked the care of the home for some time - or unfortunately, damaged the house. You will be interested in a quick disposition if the property has already returned to Real Estate Owned. So you may want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any repairs performed, with the work necessary to make the home marketable at full market value corresponding with similar real estate in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your urgency and the unique situation of a bank owned home, in addition to the special data you'll need -- competing listings, market trends, and the like. You can count on New York Appraisal to handle the appraisal of your REO with expertise and professionalism. Contact us today. |