Foreclosure and Real Estate Owned Appraisal in Forsyth County
There are special appraisal difficulties when we're talking about a home in foreclosure or one that has gone back to the financial institution's ownership.
When there is a home in foreclosure, it's important to understand the difference between fair market value and "quick disposition" worth to analyze your potential charge-off liability. Herrin Appraisal Company has the knowledge in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time constraints.
You need a company with the qualifications to deal with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact Herrin Appraisal Company.
Occupants of homes in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting special challenges. Sometimes the homes have been intentionally damaged, often by the former residents. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
If your house has reverted to Real Estate Owned, you will interested in a fast disposition. However, you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any repairs done to it, with the work necessary to make the house marketable at full market value commensurate with competing real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the special circumstances of a bank owned house, in addition to the specific data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Herrin Appraisal Company to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.