Homes in foreclosure, and homes that have reverted to an institution’s ownership, present special appraisal challenges. At Metro Real Estate Appraisal Services, 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 understand your potential charge-off liability. We have experience providing both snapshots of fair market value for our mortgage lending and servicing clients, as well as “quick sale” forecasts that respect your timeline.
Owners of property in foreclosure present special challenges of their own. They may be unwilling to allow an inspection of the property, or if the property has already been abandoned, it may have been neglected for some time — or worse, damaged. We have the experience and training to handle the unique dynamics of a foreclosure appraisal.
For a property that has already reverted to Real Estate Owned (REO) status, you’ll likewise be interested in a quick disposition, and you may want to compare three values: as-is, as-repaired, and “quick sale.” These represent the value of the property without any work done, with the work required to bring it to full market value comparable to competing properties in the area, and somewhere in between — with minimal investment in repairs, selling quickly as a “fixer-upper.” We understand your timeline and the unique circumstances of an REO property, along with the special information you’ll need, including competing listings and market trends.
Please browse our website to learn more about our qualifications, expertise, and the services we offer.
Metro Real Estate Appraisal Services maintains corporate offices in Sea Isle City, NJ, with a branch office in Delran, NJ. Our primary service area for typical residential appraisals covers southern New Jersey; our commercial and industrial coverage extends across New Jersey, eastern Pennsylvania, and northern Delaware, with nationwide quotes available on larger commercial/industrial properties.