Ouachita Appraisals is experienced when it comes to foreclosures in OuachitaThere are particular appraisal challenges regarding a house in foreclosure or one that has gone back to the lender's holding. It's vital to know the difference between fair market price and "quick disposition" price to know what losses you could sustain when dealing with a property in foreclosure. We can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your time line. You need a company with the experience to handle the specific dynamics of a foreclosure appraisal. Contact Ouachita Appraisals for a company you can trust. Owners of properties in foreclosure might be opposed to allowing an inspection of the house, thus presenting special challenges. Sometimes the houses have been intentionally damaged, unfortunately by the residents. Or, it's likely you'll find the previous owners have moved out or the home languishing in disrepair for extended periods of time. You will be interested in an expedited disposition if the home has returned to Real Estate Owned. So you might want to know and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work performed, with the work needed to make the property marketable at full market value comparable with the other houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your urgency and the specific circumstances of an REO house, in addition to the special information you'll need -- competing listings, market trends, and the like. You can bank on Ouachita Appraisals to take on the task of your bank owned property professionally and efficiently. Contact us today. |