Foreclosure and REO Appraisal in Multnomah CountyThere are specific appraisal difficulties when we're talking about a house in foreclosure or one that has gone back to the institution's possession. When there is a home in foreclosure, you need to recognize the difference between fair market worth and "quick disposition" price to know your potential charge-off liability. At Progressive Appraisal of Oregon Inc., we have the knowledge in both providing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency. We have the qualifications to deal with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Progressive Appraisal of Oregon Inc.. Owners of homes in foreclosure, of course, can present specific challenges. They could be uncooperative to allowing an inspection of the house. If they abandoned the property already, they may have not taken care of the house for awhile - or worse, caused damage to the house. You'll be interested in a quick disposition if the house has changed to REO. So you need to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the home without any work performed, with the repairs needed to make the home marketable at full market value appropriate with competing houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your urgency and the special circumstances of a Real Estate Owned house, in addition to the special information you will need -- competing listings, neighborhood trends, and so forth. You can count on Progressive Appraisal of Oregon Inc. to handle the appraisal of your REO with expertise and professionalism. Contact us today. |