Call Barefoot Appraisal to discuss valuations pertaining to Monroe foreclosures

Real Estate Owned Appraisals in Monroe County

Properties in foreclosure and properties that have gone back to the bank's ownership bring forth special appraisal challenges.

When there is a house in foreclosure, you need to recognize the difference between fair market price and "quick disposition" value to evaluate your possible charge-off liability. Barefoot Appraisal has the background in both producing snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time constraints.

You need a company who has the training to work with the specific dynamics of a foreclosure appraisal. Contact Barefoot Appraisal for a company you can rely on.

Special challenges can be present when dealing with owners of properties in foreclosure. They could be uncooperative to allowing an inspection of the home. Often the subjects have been intentionally damaged, often at the hands of the residents themselves. Or, it's common to find nobody has occupied the house for months or the home languishing in disrepair for long of time.

For a property that has already changed to REO, you typically will want to get rid of it quickly . But you may want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the repairs due to make the house marketable at full market value commensurate with similar houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific circumstances of an REO house, in addition to the unique information you'll need -- competing listings, neighborhood trends, and the like. You can count on Barefoot Appraisal to handle the appraisal of your REO with expertise and professionalism. Contact us today.