Foreclosure/REO appraisal

Homes in foreclosure and homes that have reverted to your institution's ownership present special appraisal challenges. At Cole Appraisal Associates, we're more than ready and able to help.

For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At Cole Appraisal Associates, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your 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. With our appraisal as well as construction expertise, we have the experience and training to deal with the special dynamics of a foreclosure appraisal.

For a property that has already reverted to Real Estate Owned, you likewise will be interested in a quick disposition. But you 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 being done, with the work required to make the property marketable to full market value competing with other properties in the area, and with a minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique circumstances of an REO property, as well as the special information you'll need -- competing listings, market trends, and the like.

Please browse our website to learn more about our qualifications, expertise and services offered.