Caliber Appraisal is experienced when you need appraisals for bank owned properties in King, Snohomish, Skagit, Whatcom, Island, Kittitas, and Pend Oreille counties.This is where real competence comes in, as there are special appraisal difficulties regarding a home in foreclosure or one that has gone back to the lender's control.
For a house in foreclosure, you definitely need to understand the gap between market price and a "quick disposition" value to know your likely charge-off liability. Caliber Appraisal has the experience in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your pressing needs.
Owners of properties in foreclosure might be opposed to allowing an inspection of the property, thus presenting special challenges. Often the subjects have been intentionally damaged, unfortunately by the residents. Or, it's common to discover a house at least abandoned or the home neglected for extended periods of time.
You'll be interested in a speedy disposition if the house has gone back to Real Estate Owned. So you need to know about and analyze three values: "as-is", "as repaired", and "quick sale". These symbolize: