Foreclosure Appraisal in Forsyth County
There are unique appraisal problems for a property in foreclosure or one that has gone back to the bank's control.
When there is a property in foreclosure, you need to understand the difference between fair market price and "quick disposition" worth to evaluate your likely charge-off liability. Herrin Appraisal Company has the background in both furnishing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time constraints.
You need a company with the experience to handle the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Herrin Appraisal Company.
Owners of houses in foreclosure might be opposed to allowing an inspection of the property, thus presenting special challenges. They may have abandoned the property already and/or neglected care of the home for quite awhile - or even worse, vandalized the home.
You will be interested in a speedy disposition if the home has already changed to Real Estate Owned. So you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs performed, with the repairs due to make the property marketable at full market value consistent with competing properties in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the unique circumstances of an REO home, in addition to the specific data you will need -- competing listings, neighborhood trends, and so forth. You can count on Herrin Appraisal Company to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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