Herrin Appraisal Company is a company you can trust when it comes to bank owned properties in Forsyth
Houses in foreclosure and houses that have reverted to the financial institution's ownership create special appraisal difficulties.
When dealing with a home in foreclosure, it's important to know the difference between fair market price and "quick disposition" price to evaluate your possible charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your urgency.
Herrin Appraisal Company has the qualifications to deal with the specific dynamics of a foreclosure appraisal. Contact Herrin Appraisal Company for a company you can rely on.
Specific challenges can be present when working with owners of property in foreclosure. They might be unwilling to allow an inspection of the house. Often the subjects show signs of vandalism, unfortunately by the residents themselves. Or, it's common to discover a house at least abandoned or the home languishing in disrepair for extended periods of time.
If your home has already reverted to Real Estate Owned, you will interested in a speedy disposition. However, you may want to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any work performed, with the repairs required to make the home marketable at full market value consistent with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the specific situation of a bank owned house, as well as the special data you will need -- competing listings, market trends, and the like. You can bank on Herrin Appraisal Company to take on the appraisal of your REO professionally and efficiently. Contact us today.
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