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REO Appraisal in Salt Lake County

There are special appraisal difficulties involved in a home in foreclosure or one that has reverted to the bank's ownership.

When there is a property in foreclosure, it's important to understand market value versus a "quick disposition" assessment to analyze your possible charge-off liability.Timberline Appraising Inc. has the background in both providing snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your time constraints.

nique challenges might be present when dealing with owners of property in foreclosure. They could be disinclined to allow an inspection of the house.If they abandoned the property already, they may have ignored the care of the property for quite awhile - or worse, caused damage to the house.

For real estate that has changed to bank owned, you typically will want it off your hands as quickly as possible. In any case, you'll still want to consider three ways of determining the value of the real estate at hand:

  • As Repaired. Value with the work due to make the home marketable at full market value - appropriate with other homes in the neighborhood
  • As-is. The market value of the home without any work performed
  • Quick sale. With minimal investment in repairs - to offload the home quickly, possibly to someone who'd prefer to finish the job themselves

Again, we understand your urgency and the special situation of a Real Estate Owned property, as well as the specific information you'll need - competing listings, market trends, and so forth. You can count on Timberline Appraising Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today.