Make Sure Your Foreclosure & REO Appraisals Reflect Accurate
Market Value – For “As Is”, “As Repaired”, and “Quick Sale” Properties
Turmoil in the residential real estate market presents special challenges for everyone involved. These situations demand special knowledge and expertise. Professional appraisers must understand market dynamics.
3 Requirements To Get What You Need And When You Need It
1. Appraisal Should Cover All Transaction Situations
As a lender, you may want to compare various property valuation situations. “As Is”, “As Repaired”, and “Quick Sale” conditions may be of interest.
You need to make sure your appraisals are accurate and reflect current market values — under multiple scenarios.
Almaden Appraisals delivers everything you need to complete successful transactions in fluid markets. All situations that you want to consider are covered. We deliver all necessary data to help you create the best solution for each property.
2. Appraisal Data Should Provide Supportable Valuations
Lender foreclosure and REO properties present an extra dimension to the appraisal process. Market dynamics cannot be ignored. It’s important to have a clear understanding of factors that impact accurate valuations.
Almaden Appraisals implements a Comprehensive Valuation Checklist for each foreclosure and REO property. Included are factors such as:
- Competing listings in the market area
- Current and updated market trends
- Days properties are on the market
- Any unusual market conditions
…plus any other considerations necessary to support valuations as an expert witness or for quick disposition situations.
3. Fast Report Turn Times … Without Sacrificing Accuracy
“Time is of The Essence” has special meaning to lenders – especially when dealing with foreclosures and REO real estate. Unnecessary delays due to incomplete or late appraisal report deliveries are just not acceptable.
At Almaden Appraisals, we implement a systematic reporting process using special data capture tools. This ensures that we can deliver accurate and complete reports in less than 3 days from completion of our property evaluations – a 40% reduction in typical delivery times.