Michael Smith Appraisals, Inc is a company you can trust when you need appraisals for bank owned properties in Rome
Houses in foreclosure and homes that have returned to the bank's ownership bring forth particular appraisal difficulties.
You should know the difference between fair market price and "quick disposition" price to evaluate what losses you might have to endure when dealing with a house in foreclosure. At Michael Smith Appraisals, Inc, we have the background in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your urgency.
We have the experience to handle the specific dynamics of a foreclosure appraisal. Contact Michael Smith Appraisals, Inc for a company you can count on.
Owners of homes in foreclosure, of course, can present particular challenges. They might be opposed to allowing an inspection of the home. Often the homes show signs of vandalism, often by the residents themselves. Or, it's likely you'll find the residents have moved out or the home neglected for long of time.
For real estate that has gone back to REO, you most likely will be seeking a fast resolution . But you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work performed, with the repairs required to make the home marketable at full market value consistent with the other houses in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific situation of an REO property, in addition to the specific data you will need -- competing listings, market trends, and so forth. You can count on Michael Smith Appraisals, Inc to handle the task of your REO professionally and efficiently. Contact us today.