Foreclosure and Real Estate Owned Appraisals in Lexington County
Houses that have gone back to the bank's possession and houses in foreclosure bring forth unique appraisal challenges.
When there is a home in foreclosure, you should ascertain the difference between fair market value and "quick disposition" value to evaluate your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time constraints.
We have the qualifications to handle the unique dynamics of a foreclosure appraisal. For a company you can trust, contact A. M. Appraisals.
Owners of homes in foreclosure, of course, can present specific challenges. They could be uncooperative to allowing an inspection of the house. If they have abandoned the house already, they may have ignored the care of the property for some time - or unfortunately, ransacked the house.
If your property has already returned to REO, you will interested in an expeditious disposition. However, you may want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any repairs performed, with the repairs necessary to make the home marketable at full market value comparable with similar properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone who'd rather finish the job themselves. Again, we understand your timeline and the special situation of an REO house, as well as the specific information you will need -- competing listings, neighborhood trends, and so forth. You can rely on A. M. Appraisals to take on the appraisal of your REO with expertise and professionalism. Contact us today.
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