Foreclosure & REO Appraisers

Burton & Company rapidly completes many REO, foreclosure & pre-foreclosure appraisals for many national clients. 

Foreclosure property appraisals are different than lending appraisals. For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value. Assessment of repairs needed to adequately market the property is needed.  Burton & Company Appraisals has experience in both providing appraisals for our mortgage lending as well as "quick sale" forecasts for REO properties.

Owners of property in foreclosure may be unmotivated to allow property access for an appraisal inspection. If the property is vacant, it may have been neglected or vandalized.  We are used to dealing with these foreclosure issues.  We accurately estimate needed repairs to make a property marketable, within the scope of our training.

For a property that has already reverted to REO, you desire a quick disposition. You may want to know three values: As-is, as repaired, and "quick sale." These represent the value with no work completed, with repairs required market the property similar to competing properties in the area, and, with few repairs -- selling the property very quickly, as a "fixer-upper."  We understand your "need for speed" circumstances of an REO property. 

Here is a recent BBC article on Foreclosures "Foreclosure Wave Sweeps America" 

REO Foreclosure Resources

HousingTracker.net REO Inventory Easy to read REO inventory stats in the Sacramento Area.

ManagingREO REO Magazine/news

DSNews.com Default Servicing News

WikipediaForeclosure

ForeclosureNews from Mortgage Daily

REOMAC  Non-profit REO industry group

Mortgage Servicing News

Notes on our REO/Asset appraisals

We use absolutely most current sales, listings & pending sales to "nail" the true value of the property.  We correctly analyze price trends (up or down, recently way down), days on market, number of competing properties, and the true market reaction to the condition of the subject property.  We do not blindly slap three closed sales on the grid, pick an average indicated value and send off the report.  We correctly research and adjust for comparable sales concessions.  We do this with hyper quick turn times and frequent status updates. 

To order an appraisal online, click here  or by fax here