Bear Rock Appraisal is experienced when it comes to bank owned properties in Cortland
Homes in foreclosure and properties that have returned to the institution's ownership create various appraisal challenges.
It's key to recognize the difference between fair market value and "quick disposition" worth to know your possible charge-off liability when dealing with a property in foreclosure. The professionals at Bear Rock Appraisal can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your timeline.
We have the expertise to handle the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Bear Rock Appraisal.
Specific challenges can be present when working with owners of property in foreclosure. They might be uncooperative to allowing an inspection of the property. Sometimes the subjects have been ransacked, unfortunately by the residents themselves. Or, it's likely you'll find the previous owners have moved out or the home languishing in disrepair for extended periods of time.
For real estate that has reverted to Real Estate Owned, you likewise will be going for an expeditious disposition . But you may want to know and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work performed, with the work necessary to make the property marketable at full market value appropriate with similar houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your time line and the unique situation of a Real Estate Owned house, as well as the unique information you'll need -- competing listings, market trends, and so forth. You can rely on Bear Rock Appraisal to take on the task of your bank owned property professionally and efficiently. Contact us today.