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Genesis Appraisal Group is experienced when it comes to foreclosures in Bend, Oregon
Homes in foreclosure and properties that have returned to the financial institution's control bring forth special appraisal problems.
When there is a house in foreclosure, it's important to ascertain market value versus a "quick disposition" value to evaluate your probable charge-off liability.
We can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time line.
Owners of property in foreclosure might be opposed to allowing an inspection of the home, thus presenting special challenges.
They might have left the house already and/or ignored the care of the home for quite some time - or unfortunately, intentionally harmed the house.
For a home that has changed to bank owned, you most likely will be going for an expedited resolution. In any case, you'll still want to consider three ways of figuring the value of the asset:- As Repaired. Value with the work necessary to make the property marketable at full market value - consistent with competing properties in the area
- As-is. The value of the house without any repairs performed
- Quick sale. Somewhere in the middle, with minor investment in repairs - to offload the home quickly, seemingly as a "fixer-upper"
Again, we understand your urgency and the special situation of an REO house, as well as the special information you'll need - competing listings, neighborhood trends, and the like. You can count on Genesis Appraisal Group to take on the task of your bank owned property professionally and efficiently. Contact us today.
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Residential & Commercial Appraiser, FHA approved, PMI removal, Investment, Divorce, Estate, Expert Witness Testimony, Cost Segregation Studies
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