Russell Appraisal Service is a company you can trust when you need appraisals for bank owned properties in Travis
Homes that have gone back to the institution's possession and homes in foreclosure present particular appraisal difficulties.
When dealing with a home in foreclosure, you should differentiate the difference between fair market worth and "quick disposition" value to evaluate your likely charge-off liability. At Russell Appraisal Service, we have the knowledge in both providing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time constraints.
The professionals at Russell Appraisal Service have the experience to deal with the specific dynamics of a foreclosure appraisal. Contact Russell Appraisal Service for a company you can rely on.
Owners of houses in foreclosure, of course, can present unique challenges. They might be unwilling to allow an inspection of the house. Sometimes the houses show signs of vandalism, unfortunately by the former residents. Or, it's likely you'll discover the residents have moved out or the home neglected for extended periods of time.
You will be interested in a speedy disposition if the property has already gone back to REO. So you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the work due to make the home marketable at full market value comparable with competing houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly to someone who'd rather finish the job themselves. Again, we understand your urgency and the unique circumstances of a Real Estate Owned house, as well as the unique information you'll need -- competing listings, neighborhood trends, and the like. You can count on Russell Appraisal Service to take on the task of your REO with expertise and professionalism. Contact us today.