West Orange Property Appraisal

1. West Orange Property Appraisal Homes in foreclosure and homes that have reverted to an institution's ownership present special appraisal challenges. Alta Associates Appraisals, Inc is experienced in providing this service. For a property in foreclosure, we can supply the difference between fair market value and "quick disposition" value, to determine the potential charge-off liability. We have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your timeline. Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage. Vacated homes can also be subject to being broken into for the purpose of stripping the dwelling of copper pipes and wiring, along with other materials. We have the experience and training to deal with the special dynamics of a foreclosure real estate appraisal, and you should not hesitate to rely on us. For a property that has already reverted to Real Estate Owned, the client may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the values 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." We understand the timelines and the unique circumstances of an REO property, as well as the special information needed -- competing listings, market trends, and the like. Estate Planning & Settlement Appraisals Real property value appraisals typically are required for estate settlement purposes as well as estate planning by providing an opinion of value placed on real property. We understand the purpose and are used to dealing with all parties involved. We provide either retrospective or

2. current, establishing an opinoion of value via an estate appraisal to assist in settling an estate amongst heirs. Executors, Attorneys and Accountants can rely on our estate home value appraisals when providing assistance, calculating and settling estates. Settling an estate usually requires a real estate appraisal to establish Fair Market Value for the residential property involved. Typically, the date of death differs from the date the appraisal is requested. We are familiar with the procedures and requirements necessary to perform a retrospective appraisal report with an effective date and opinion of Fair Market Value as of said date of loss. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the fullest degree of discretion. estate appraisal reports that meet the requirements of families and heirs, along with the courts and various agencies, All too often, people do not fully understand the need to have a detailed real estate appraisal report prepared in support of the numbers being used in documents filed with revenue authorities. Conclusions of value used in documents filed with the revenue authorities should be supported by a detailed appraisal report, with a summarization of how the appraiser arrived at their conclusion. Such a report will certainly demonstrate to the authorities that the numbers used are well founded and substantiated. Having a professional appraisal gives the executor solid facts and figures, which can be utilized in meeting IRS and state agency requirements. It assures peace of mind to everyone concerned because we are there to stand behind the appraisal if it is challenged. Settling an Estate or Estate Planning is an important and sometimes stressful job. As an Executor, you have been entrusted to carry out the wishes of the deceased as swiftly and exactly as possible. You can count on us to act quickly and with sensitivity to the feelings of everyone involved. We are familiar with the special circumstances that often accompany property valuation in estate settlement cases, and can handle your needs in a timely manner and in complete confidence. We also have experience giving expert witness testimony in many areas related to property value. For more information please visit http://www.altaassociatesinc.com