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Nordal & Associates Real Estate Appraisal is experienced when it comes to bank owned properties in San Diego County
Houses that have returned to the financial institution's holding and houses in foreclosure create specific appraisal challenges.
For a property in foreclosure, you should understand the difference between market and a "quick disposition" assessment to know your potential charge-off liability.
Nordal & Associates Real Estate Appraisal has the experience in both producing snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time line.
Unique challenges can be present when dealing with owners of properties in foreclosure. They might be unwilling to allow an inspection of the property.
They may have abandoned the home already and/or neglected care of the property for quite some time - or unfortunately, damaged the home.
For real estate that has already changed to Real Estate Owned, you likewise will be going for a quick resolution. But you may want to know and review three values - "as-is", "as repaired", and "quick sale". These correspond to: - The value of the home without any work done to it
- Possible value with the work called for to make the home marketable at full market value - comparable with other homes in the area
- With minimal investment in repairs - to offload the property quickly, possibly to someone inclined to finish the job themselves
Again, we understand your urgency and the specific situation of a Real Estate Owned home, as well as the special data you'll need - competing listings, neighborhood trends, and the like. You can count on Nordal & Associates Real Estate Appraisal to take on the appraisal of your REO with expertise and professionalism. Contact us today.
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