Foreclosure and REO Appraisal in Bergen County

When there is a property in foreclosure, you need to differentiate market value versus a "quick disposition" assessment to know your potential charge-off liability. Leonard Appraisal Services, LLC has the knowledge in both providing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your urgency.

	Leonard Appraisal Services, LLC has the training to work with the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Leonard Appraisal Services, LLC.

Occupants of properties in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting particular challenges. If they left the home already, they may have neglected care of the property for awhile - or worse, caused damage to the property.

For real estate that has already returned to REO, you probably will be seeking a quick resolution. In any case, you'll still want to consider three ways of determining the value of the asset:

• As Repaired. Value with the repairs needed to make the house marketable at full market value - in accordance with similar homes in the area
• As-is. The value of the property without any work done to it
• Quick sale. With minimal investment in repairs - to get rid of the property quickly, possibly as a "fixer-upper"