Real Estate Owned and Foreclosure Appraisals in Bergen County
There are specific appraisal challenges for a house in foreclosure or one that has reverted to the bank's ownership.
You need to understand the difference between fair market worth and "quick disposition" value to know your possible charge-off liability when dealing with a property in foreclosure. Gold Coast Appraisal Group LLC has the background in both providing snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your time constraints.
We have the qualifications to handle the particular dynamics of a foreclosure appraisal. Contact Gold Coast Appraisal Group LLC for a company you can count on.
Specific challenges can be present when working with owners of homes in foreclosure. They may be unwilling to allow an inspection of the house. If they moved out of the property already, they might have ignored the care of the house for awhile - or worse, damaged the property.
If your home has gone back to Real Estate Owned, you will interested in a speedy disposition. But you might want to know and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any work performed, with the work due to make the home marketable at full market value commensurate with the other houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your urgency and the specific situation of an REO property, in addition to the special information you will need -- competing listings, market trends, and the like. You can count on Gold Coast Appraisal Group LLC to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.