Foreclosure and Real Estate Owned Appraisals in Bay County
Real Estate in foreclosure and houses that have returned to the lender's ownership present unique appraisal difficulties.
For a home in foreclosure, you should understand the gap between fair market and "quick disposition" to know your likely charge-off liability. At Giles Appraisal Group, Inc., we have the knowledge in both providing snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your time line.
The professionals at Giles Appraisal Group, Inc. have the experience to deal with the special dynamics of a foreclosure appraisal. Contact Giles Appraisal Group, Inc. for a company you can rely on.
Special challenges may be present when working with owners of houses in foreclosure. They may be disinclined to allow an inspection of the house. They might have moved out of the property already and/or neglected care of the property for a long time - or unfortunately, vandalized the property.
For a property that has already reverted to Real Estate Owned, you most likely will want it off your hands as quickly as possible . But you might want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work performed, with the repairs due to make the house marketable at full market value commensurate with similar properties in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned home, as well as the unique data you will need -- competing listings, market trends, and the like. You can count on Giles Appraisal Group, Inc. to handle the task of your bank owned property with expertise and professionalism. Contact us today.