Giles Appraisal Group, Inc. is experienced when it comes to bank owned properties in Bay
Real Estate in foreclosure and homes that have returned to the lender's control bring forth unique appraisal challenges.
For a property in foreclosure, you need to understand the difference between the fair market worth and "quick disposition" to know your potential charge-off liability. At Giles Appraisal Group, Inc., we have the background in both supplying snapshots of fair market value for our mortgage lending and servicing clients, as well as "quick sale" forecasts that understand your time line.
You need a company with the expertise to handle the unique dynamics of a foreclosure appraisal. Contact Giles Appraisal Group, Inc. for a company you can rely on.
Owners of houses in foreclosure, of course, can present particular challenges. They might be disinclined to allow an inspection of the home. Sometimes the homes show signs of vandalism, often by the residents. Or, it's common to discover the residents have moved out or the home neglected for extended periods of time.
You will be interested in a speedy disposition if the house has gone back to REO. So you need to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any repairs done to it, with the repairs due to make the property marketable at full market value commensurate with competing houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your time line and the specific situation of a Real Estate Owned property, in addition to the specific information you'll need -- competing listings, market trends, and the like. You can bank on Giles Appraisal Group, Inc. to take on the appraisal of your REO with expertise and professionalism. Contact us today.