Frederick & Company is experienced when it comes to bank owned properties in Allegheny
There are various appraisal difficulties when we're talking about a house in foreclosure or one that has reverted to the lender's control.
It's key to know the difference between fair market price and "quick disposition" price to evaluate what losses you stand to realize when dealing with a property in foreclosure. At Frederick & Company, we have the knowledge in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
You need a company who has the experience to deal with the particular dynamics of a foreclosure appraisal. Contact Frederick & Company for a company you can trust.
Owners of property in foreclosure, of course, can present specific challenges. They might be opposed to allowing an inspection of the house. They might have moved out of the property already and/or overlooked the care of the home for quite some time - or even worse, intentionally harmed the home.
For a house that has returned to bank owned, you most likely will be seeking a speedy disposition . However, you might want to know and examine three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work performed, with the repairs called for to make the house marketable at full market value corresponding with the other properties in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your timeline and the specific circumstances of an REO home, as well as the specific data you'll need -- competing listings, market trends, and the like. You can bank on Frederick & Company to take on the task of your REO professionally and efficiently. Contact us today.