Foreclosure Appraisals & Bankruptcy Appraisals in Los Angeles & Southern California, by Darius G. Carter

By- Darius G. Carter
A1 Los Angeles Home Appraisal

We stand ready to assist with bankruptcy appraisals and foreclosure appraisals throughout the city and county of Los Angeles, Orange County, Ventura County, and the Southern California region in general. We are very much aware of the impact the mortgage crisis has had on individual homeowners as well as lenders. You can count on A1 Los Angeles Home Appraisal to quickly and competently perform bankruptcy and foreclosure appraisals. All you need to do is give us a call. I'd like to discuss both kinds of appraiser work.

Bankruptcy Appraisals

The process of a bankruptcy requires the debtor to create an expense report illustrating the net worth of their assets. In order to get a true reading of the value of their property, an appraisal is necessary. It is the responsibility of the homeowner to get the appraisal.

The bankruptcy process has several deadlines. Missing one deadline may postpone the court date and delay resolution. It is important to order a bankruptcy appraisal as soon as possible. I will work with your schedule to complete the report well before any deadlines. A simple call to us will keep the process on schedule and complete the requirements necessary for resolution.

Foreclosure Appraisals

The foreclosure process is a long and complicated one. When a property is in foreclosure and mortgage payments hit the 90- to 120-day late mark, a lender typically requires a foreclosure appraisal. A foreclosure appraisal gives the lender the current value of the property.

This information could also be useful to the homeowner when in negotiations with the lender during the foreclosure process. Homeowners, banks and lenders need to know the difference between "fair market value" and "quick disposition value" in order to determine the potential equity or charge-off liability of the property. I can provide phased appraisal views of fair market value. In other words, the appraisal can show what the house is worth if properly marketed compared to As-Is, As-Repaired and/or Short Sale conditions.

Foreclosures are rapidly increasing, leaving banks and lenders with more and more REOs (Real Estate Owned -- A property becomes an REO when the bank or lender has completed the foreclosure process and the property is completely owned by the bank or lender). Banks and lenders must then sell the foreclosed properties.

The aftermath of the huge real estate boom that ended in mid-2006 has caused many changes in the real estate market. For example, if an REO home for sale has been on the market over 90 days, then an updated foreclosure appraisal from an independent appraiser is required to determine a sale price. The updated foreclosure appraisal is required to show market conditions that may have changed since the original foreclosure appraisal.

Owners of property in foreclosure present special challenges. The events that may have lead to the foreclosure (i.e., the loss of a job, divorce, death, bankruptcy, medical issues, etc.) can put the homeowner on the defensive. Homeowners may be unwilling to allow an inspection of the property. If the property has been abandoned, care of the home may have been neglected for some time. In some cases, the home may have been intentionally damaged. I have the experience and the sensitivity to deal with the special dynamics of a foreclosure appraisal.

In either case, whether you need a bankruptcy appraisal or a foreclosure appraisal, I can give you a quality, well-researched valuation of the property. My contact information appears at the bottom of this page.

A1 Los Angeles Home Appraisal
Darius G. Carter, Appraiser
&
Michael McKown

Do you have any questions?
Would you like me to do your appraisal?
Just call or click the envelope below to send email!

Bankruptcy & Foreclosure Appraisals
in Los Angeles & All Southern California

Bankruptcy Appraisals