Call N. Compass Appraisals to order valuations on Butte foreclosures

Real Estate Owned and Foreclosure Appraisal in Butte County

Properties in foreclosure and houses that have reverted to the institution's control create various appraisal difficulties.

When dealing with a house in foreclosure, you need to differentiate market value versus a "quick disposition" value to know your probable charge-off liability. The professionals at N. Compass Appraisals can provide both snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time constraints.

N. Compass Appraisals has the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact N. Compass Appraisals for a company you can count on.

Specific challenges might be present when working with owners of property in foreclosure. They could be uncooperative to allowing an inspection of the property. Often the homes have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's common to find the residents have moved out or the home languishing in disrepair for long periods of time.

For a home that has gone back to Real Estate Owned, you probably will be seeking an expedited resolution. In any case, you'll still want to consider three ways of determining the value of the asset (or in some cases, liability):

  • As Repaired. Possible market value with the repairs required to make the home marketable at full market value - in accordance with similar real estate in the neighborhood
  • As-is. The value of the home without any work performed
  • Quick sale. With minor investment in repairs - to offload the property quickly, probably as a "fixer-upper"
Again, we understand your timeline and the special circumstances of an REO house, as well as the unique data you'll need - competing listings, neighborhood trends, and so forth. You can bank on N. Compass Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today.