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The Mason Group is the company you should trust when you need appraisals for foreclosures in Riverside County and Los Angeles County.Properties that have reverted to the bank's control and houses in foreclosure bring forth particular appraisal problems.
When dealing with a home in foreclosure, you need to understand market value versus a "quick disposition" price to analyze your probable charge-off liability. The Mason Group has the training in both producing snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
Owners of houses in foreclosure can present particular challenges: For example, they might be opposed to allowing us access to the property. They could have left the home already and/or overlooked the care of the house for quite awhile - or in some cases caused damage to the house.
For real estate that has gone back to bank owned, you likewise will be interested in an expeditious resolution. Regardless, you'll still want to consider three ways of looking at the value of the subject property:
- As Repaired. Possible market value with the work needed to make the property marketable at full market value - in accordance with other properties in the area
- As-is. The market value of the property without any repairs performed
- Quick sale. Somewhere in the middle, with minimal investment in repairs - to sell the property quickly, likely to someone who'd rather finish the job themselves
Again, we understand your time line and the specific situation of a bank owned property, in addition to the special information you will need - competing listings, market trends, and so forth. You can bank on The Mason Group to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.
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