Real Estate Owned and Foreclosure Appraisal in Bay County
There are particular appraisal problems involved in a house in foreclosure or one that has returned to the bank's holding.
It's vital to understand the difference between fair market price and "quick disposition" worth to know what losses you stand to realize when dealing with a house in foreclosure. Giles Appraisal Group, Inc. has the background in both producing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your urgency.
Giles Appraisal Group, Inc. has the expertise to deal with the unique dynamics of a foreclosure appraisal. Contact Giles Appraisal Group, Inc. for a company you can count on.
Owners of dwellings in foreclosure may be unwilling to allow an inspection of the property, thus presenting particular challenges. Often the properties show signs of vandalism, unfortunately by the residents themselves. Or, it's common to discover nobody has lived in house for months or the home languishing in disrepair for long of time.
If your property has already changed to REO, you will interested in a quick disposition. But you may want to know about and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any repairs performed, with the work necessary to make the home marketable at full market value comparable with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the specific situation of a bank owned property, in addition to the special information you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Giles Appraisal Group, Inc. to handle the task of your bank owned property professionally and efficiently. Contact us today.