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Capuano Appraisal Services, LLC is the company you should trust when it comes to bank owned properties in Bristow, Virginia
Properties that have returned to the institution's control and properties in foreclosure bring forth special appraisal challenges.
When dealing with a house in foreclosure, you need to differentiate market value versus a "quick disposition" price to know your probable charge-off liability.
At Capuano Appraisal Services, LLC, we have the experience in both presenting snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that consider your timeline.
Particular challenges might be present when working with owners of houses in foreclosure. They might be opposed to allowing an inspection of the home.
They could have deserted the house already and/or neglected care of the house for some time - or gone as far as vandalized the house.
For a property that has already changed to bank owned, you probably will want to get rid of it quickly. Regardless, you'll still want to consider three ways of figuring the value of the asset (or in some cases, liability):- As Repaired. Possible market value with the work required to make the house marketable at full market value - comparable with other real estate 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, probably to someone who'd rather finish the job themselves
Again, we understand your timeline and the specific situation of a bank owned property, in addition to the specific information you'll need - competing listings, neighborhood trends, and the like. You can rely on Capuano Appraisal Services, LLC to take on the appraisal of your REO professionally and efficiently. Contact us today.
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