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Turner Consulting is the company you should trust when it comes to bank owned properties in Northridge, California There are particular appraisal difficulties involved in a property in foreclosure or one that has returned to the bank's ownership.
When there is a home in foreclosure, it's important to recognize market value versus a "quick disposition" assessment to analyze your possible charge-off liability. We can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your urgency.
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Turner Consulting has the expertise to deal with the specific dynamics of a foreclosure appraisal. Contact Turner Consulting for a company you can trust. |
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Unique challenges might be present when dealing with owners of properties in foreclosure. They could be opposed to allowing an inspection of the property. Often the properties show signs of vandalism, unfortunately by the residents themselves. Or, it's likely you'll discover a house at least abandoned or the home neglected for long periods of time.
For a home that has already gone back to REO, you probably will want to get rid of it quickly. Regardless, you'll still want to consider three ways of figuring the value of the real estate at hand:
- As Repaired. Possible market value with the work required to make the property marketable at full market value - comparable with similar houses in the area
- As-is. The value of the home without any repairs done to it
- Quick sale. Somewhere in the middle, with minor investment in repairs - to get rid of the home quickly, likely to someone who'd rather finish the job themselves
Again, we understand your time line and the specific circumstances of a Real Estate Owned home, as well as the special information you'll need - competing listings, market trends, and so forth. You can rely on Turner Consulting to take on the appraisal of your REO with expertise and professionalism. Contact us today.
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