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Jungroth Appraisal, Inc. is experienced when you need appraisals for bank owned properties in Oklahoma County Homes that have reverted to the bank's control and houses in foreclosure bring forth special appraisal challenges.
You should understand the difference between fair market worth and "quick disposition" value to know your likely write-down liability when dealing with a property in foreclosure. At Jungroth Appraisal, Inc., we have the experience in both providing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your urgency.
Special challenges can be present when working with owners of property in foreclosure. They may be uncooperative to allowing an inspection of the home. Often the properties have been ransacked, often by the former residents themselves. Or, it's likely you'll discover nobody has occupied the house for months or the home neglected for extended periods of time.
If your home has already changed to Real Estate Owned, you will interested in an expeditious disposition. But you may want to know about and examine three values: as-is, as repaired, and "quick sale". These represent: the worth of the property without any work performed, with the repairs due to make the house marketable at full market value comparable with similar real estate in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably to someone who'd prefer to finish the job themselves.
Again, we understand your urgency and the special circumstances of an REO property, as well as the special data you will need - competing listings, market trends, and the like. You can bank on Jungroth Appraisal, Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today.
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