Foreclosure and Real Estate Owned Appraisals in Forsyth County
There are particular appraisal difficulties regarding a property in foreclosure or one that has reverted to the financial institution's control.
It's key to differentiate the difference between fair market price and "quick disposition" value to know your possible charge-off liability when dealing with a house in foreclosure. Herrin Appraisal Company has the training in both producing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your time constraints.
Herrin Appraisal Company has the experience to handle the particular dynamics of a foreclosure appraisal. Contact Herrin Appraisal Company for a company you can rely on.
Specific challenges might be present when dealing with owners of homes in foreclosure. They might be unwilling to allow an inspection of the house. If they abandoned the home already, they could have overlooked the care of the property for quite awhile - or unfortunately, ransacked the home.
For a house that has already reverted to bank owned, you probably will want it off your hands as quickly as possible . However, you might want to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the work necessary to make the home marketable at full market value commensurate with similar homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your time line and the specific situation of a bank owned property, in addition to the unique information you'll need -- competing listings, market trends, and the like. You can count on Herrin Appraisal Company to handle the task of your bank owned property professionally and efficiently. Contact us today.
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