Michael Smith Appraisals, Inc is experienced when you need appraisals for bank owned properties in Floyd
Homes that have gone back to the bank's holding and properties in foreclosure present unique appraisal challenges.
When dealing with a house in foreclosure, it's important to recognize the difference between fair market price and "quick disposition" value to evaluate your probable charge-off liability. Michael Smith Appraisals, Inc has the training in both supplying snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that take into account your time line.
The professionals at Michael Smith Appraisals, Inc have the qualifications to work with the particular dynamics of a foreclosure appraisal. Contact Michael Smith Appraisals, Inc for a company you can trust.
Owners of dwellings in foreclosure might be uncooperative to allowing an inspection of the property, thus presenting unique challenges. Sometimes the properties show signs of vandalism, often by the residents. Or, it's likely you'll discover a house at a minimum abandoned or the home languishing in disrepair for long of time.
If your property has already reverted to Real Estate Owned, you will interested in an expedited disposition. But you may want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work due to make the home marketable at full market value commensurate with competing properties in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your timeline and the specific situation of an REO home, as well as the specific data you will need -- competing listings, neighborhood trends, and the like. You can count on Michael Smith Appraisals, Inc to take on the task of your bank owned property professionally and efficiently. Contact us today.