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| REO Appraisers Get Orders Here |
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We are your source for additional REO Appraisal Orders.
The collapse of the sub-prime lending industry and the large number of borrowers defaulting on their mortgages; has created an influx of REO appraisals, foreclosures and repossession appraisals. Our client base of Asset Managers needs your experience in these areas....
In addition to the existing client base we had, REO Appraisers 123 has added additional lenders and servicers who are looking for your expertise in Real Estate Owned appraisals (REO). With a growing volume of foreclosures, bankruptcies and REOs; experienced and professional appraisers are now needed throughout the country to take on these REO Appraisal assignments.
For a property in foreclosure, Lenders may need to know the difference between fair market value and "quick disposition" value, to know their potential charge-off liability.
REO appraisals, although similar to a market appraisal, deliver an in depth market analysis needed to determine how a bank or investor will liquidate a property. Banks and investors need to compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper."
Until recently the number of REO appraisal were minimal, but with the sub prime fall out, and lenders closing doors around the country, it’s likely REO Appraisers 123 will continue to see an increase in the number of REO appraisals our clients are providing to members of our site.
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