Real Estate Owned and Foreclosure Appraisals in Nassau CountyThere are unique appraisal challenges for a property in foreclosure or one that has reverted to the financial institution's holding. When there is a house in foreclosure, it's important to understand the difference between fair market value and "quick disposition" value to analyze your possible charge-off liability. N. J. Monastero & Associates, Inc. has the training in both supplying snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your timeline. N. J. Monastero & Associates, Inc. has the training to handle the unique dynamics of a foreclosure appraisal. Contact N. J. Monastero & Associates, Inc. for a company you can rely on. Occupants of property in foreclosure may be disinclined to allow an inspection of the property, thus presenting special challenges. They may have moved out of the property already and/or overlooked the care of the property for a long time - or unfortunately, damaged the home. You will be interested in a quick disposition if the property has already reverted to bank owned. So you might want to know about and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work called for to make the home marketable at full market value consistent with the other houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the unique circumstances of a Real Estate Owned home, as well as the special data you'll need -- competing listings, market trends, and the like. You can rely on N. J. Monastero & Associates, Inc. to take on the task of your bank owned property with expertise and professionalism. Contact us today. |