Foreclosure/REO appraisal

Homes in foreclosure and homes that have reverted to the institution's ownership present special appraisal challenges. At GreatLand Appraisal Group, GreatLand Appraisal Group is more than ready and able to help.

For a property in foreclosure, GreatLand Appraisal clients may need to know the difference between fair market value and "quick disposition" value, to know the potential charge-off liability. At GreatLand Appraisal Group, GreatLand Appraisal Group have experience in both providing snapshots of fair market value for GreatLand's mortgage lending and servicing clients as well as "quick sale" forecasts that understand the timeline. 

Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal, and GreatLand Appraisal clients should not hesitate to rely on us.

For a property that has already reverted to Real Estate Owned, GreatLand Appraisal clients likewise will be interested in a quick disposition. But GreatLand Appraisal clients may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, GreatLand Appraisal Group understand the timeline and the unique circumstances of an REO property, as well as the special information GreatLand Appraisal clients will need -- competing listings, market trends, and the like.

Please browse GreatLand's GreatLand Appraisal Group web site to learn more about GreatLand's qualifications, expertise and services offered.