Foreclosure and REO Appraisal in Bay County
Properties that have gone back to the financial institution's possession and properties in foreclosure present special appraisal difficulties.
For a property in foreclosure, you might need to know the difference between fair market worth and "quick disposition" value to know your probable charge-off liability. At Giles Appraisal Group, Inc., we have the background in both supplying snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency.
You need a company who has the qualifications to work with the specific dynamics of a foreclosure appraisal. Contact Giles Appraisal Group, Inc. for a company you can trust.
Particular challenges may be present when dealing with owners of houses in foreclosure. They might be disinclined to allow an inspection of the house. They may have left the property already and/or ignored the care of the house for quite awhile - or in some cases vandalized the home.
You will be interested in an expedited disposition if the property has already changed to Real Estate Owned. So you might want to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any repairs done to it, with the work necessary to make the house marketable at full market value corresponding with the other homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone who'd rather finish the job themselves. Again, we understand your timeline and the unique circumstances of a bank owned home, as well as the unique information you will need -- competing listings, market trends, and so forth. You can count on Giles Appraisal Group, Inc. to handle the appraisal of your bank owned property with expertise and professionalism. Contact us today.