Foreclosure and Court Ordered Sale Appraisals in the Calgary Region.
Homes in foreclosure and properties that have gone back to the institution's control bring forth unique appraisal problems.
When there is a property in foreclosure, you need to know market value versus a "quick disposition" assessment to analyze your potential charge-off liability. At Benchmark Real Estate Appraisals, we have the knowledge in both furnishing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that consider your time constraints.
For further information on foreclosure appraisals, or to request an appraisal for foreclosure purposes, please contact us!
Owners of houses in foreclosure unfortunately can present unique challenges. For example, they might be unwilling to allow us access to the house. If they moved out of the home already, they may have ignored the care of the home for awhile - or worse, caused damage to the home.
For real estate that has reverted to REO, you likewise will be seeking a fast disposition. In any case, you'll still want to consider three ways of determining the value of the subject property:
- As Repaired. Possible market value with the repairs required to make the property marketable at full market value - consistent with competing properties in the neighborhood
- As-is. The value of the house without any work done to it
- Quick sale. With minor investment in repairs - to sell the home quickly, probably as a "fixer-upper"
Again, we understand your time line and the unique circumstances of a Real Estate Owned home, as well as the unique data you'll need - competing listings, neighborhood trends, and so forth. You can count on Benchmark Real Estate Appraisals to take on the task of your REO professionally and efficiently. Contact us today.