We are very familiar with appraising REO properties. “REO” stands for “Real Estate Owned” and is a term used to signify that the bank or lender has taken title of a property due to foreclosure. REO properties are one of the sad realities of our market today and we are often hired (every week) by Asset Managers and other Governmental Organizations to appraise properties to help them sell off their inventory (and in turn eventually bring stability to the market hopefully).
If you are a home owner facing foreclosure and you need to have an appraisal done to present to your Lender, please contact us.
If you are an Asset Manager, bank, or agency handling foreclosure appraisals, know that we use the REO addendum regularly as a part of our appraisals and we understand the need of our clients to sell their properties at a reasonable level in probably 90 days or less.
Feel free to contact us for more information at www.lundquistcompany.com or 916-595-3735.
