Foreclosure/REO Appraisal

Navigating the appraisal complexities of foreclosed homes and real estate owned (REO) commercial properties can be a daunting task. However, at Granite Appraisal Group, we are well-equipped and ready to help you confront these challenges head-on.

In the unfortunate event of a foreclosure, discerning the difference between the property’s fair market value and its ‘quick disposition’ value becomes crucial. This distinction is imperative in gauging your potential charge-off liability. With our extensive experience in real estate appraisal, we can provide an immediate snapshot of the market for our mortgage lending and servicing clients. Our expertise extends to developing precise ‘quick sale’ forecasts that cater to your specific timelines.

Foreclosed properties often come with their unique set of challenges. For instance, the owners might be reluctant to permit an inspection of the property, or they may have abandoned the property and neglected its upkeep for a while, or worse still, intentionally inflicted damage. This is where our skills and training in foreclosure appraisal come into play. We have the expertise to handle the intricate dynamics of a foreclosure appraisal – you can confidently count on us.

For REO properties, the need for a swift disposition is equally critical. However, in this case, you would want to compare three values: ‘As-is’ (the value of the property in its current state), ‘As repaired’ (the value after carrying out necessary work to make the property competitive in the market), and ‘Quick Sale’ (value after minimal repairs, usually sold as a fixer-upper). Understanding your timelines and the unique circumstances of an REO property, we provide the special information you require, such as competing listings and market trends.

At Granite Appraisal Group, we have successfully delivered thousands of such reports, each tailored to our clients’ specific needs. We encourage you to explore our website to gain further insights into our qualifications, specialized expertise, and the broad range of services we offer.

For a quote and turnaround time, simply provide us with the address of your property via a call or an email. Rest assured, we are always more than ready to assist you in navigating the complexities of real estate appraisal.

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