At EAS, we specialize in Los Mitigation Appraisals, working extensively with Bank of America, Wells Fargo and Washington Mutual. As such, you can trust that we have the experience and training to deal with the special dynamics of a foreclosure or a Real Estate Owned (REO) appraisal.
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For example, owners of a property in foreclosure may be unwilling to allow an inspection of the property, may have abandoned the property, neglected care, or even caused damage. You may need to know the difference between fair market value and "quick disposition" value (30 day fire sale value), to know your potential charge-off liability.
At EAS we can provide both snapshots of fair market value, for our mortgage lending and servicing clients, as well as a "quick sale" forecast to reflect your timeline.
For a property that has already reverted to Real Estate Owned (REO), you will be interested in a quick disposition. You may want to know and compare three different values:
- The as is value of the property without any work done to it
- The as repaired value with the work required to make the property marketable
- The quick sale value with minimal investment in repairs
Our REO appraisal will contain all the special information you'll need such as competing listings, market trends, etc; and we can provide it for you in a timely fashion.
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