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Real Estate Owned Appraisal in Duval County
Homes that have returned to the institution's control and properties in foreclosure create specific appraisal challenges.
When dealing with a home in foreclosure, you need to differentiate market value versus a "quick disposition" value to know your possible charge-off liability.
At Personal Service Realty's Residential Valuation Group, we have the knowledge in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that consider your time constraints.
Owners of homes in foreclosure could be unwilling to allow an inspection of the home, thus presenting particular challenges.
If they abandoned the house already, they may have overlooked the care of the house for quite awhile - or even worse, damaged the home.
If you're dealing with home that has already changed to REO, you will interested in an expedited disposition. But you might want to understand and compare three values: as-is, as repaired, and "quick sale". These represent: - The value of the property without any repairs performed
- Value with the repairs due to make the home marketable at full market value - consistent with similar real estate in the area
- Somewhere in the middle, with minor investment in repairs - to offload the property quickly, probably as a "fixer-upper"
Again, we understand your time line and the unique situation of an REO house, as well as the unique data you will need - competing listings, neighborhood trends, and so forth. You can count on Personal Service Realty's Residential Valuation Group to handle the appraisal of your REO with expertise and professionalism. Contact us today.
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