Here at Home Appraisals, Inc., we have been seeing an increase in the amount of requests for Short Sale Appraisals. This is due in most part by decreasing real estate values in Florida. Most Short Sale Appraisals cost $300.
A Short Sale is when the holder of the mortgage on a property allows the owner to sell the property for a price which is less than the outstanding mortgage balance. For example, if the property is worth $80,000 but the current outstanding balance is $100,000. The mortgage holder may allow the owner to sell the property for $80,000 and the mortgage holder will write off the loss of $20,000. For the owner to get approval to sell the property for $80,000, the owner will most likely have to get a Short Sale Appraisal to prove to the bank that the home is worth only $80,000.
Home Appraisals, Inc. can provide you with a reliable Short Sale Appraisal. We cover the entire state of Florida. Most appraisals are completed in two – three days from when the appraisal in ordered.
