Call Michael Smith Appraisals, Inc when you need valuations regarding Floyd foreclosures

Real Estate Owned Appraisal in Floyd County

There are unique appraisal difficulties when it comes to a home in foreclosure or one that has returned to the bank's control.

For a home in foreclosure, you need to recognize the gap between fair market price and "quick disposition" worth to know your potential charge-off liability. At Michael Smith Appraisals, Inc, we have the training in both supplying snapshots of fair market value for our mortgage clients, as well as "quick sale" forecasts that understand your time line.

Michael Smith Appraisals, Inc has the qualifications to handle the specific dynamics of a foreclosure appraisal. For a company you can count on, contact Michael Smith Appraisals, Inc.

Owners of homes in foreclosure, of course, can present special challenges. They may be uncooperative to allowing an inspection of the home. Often the homes show signs of vandalism, often by the former residents themselves. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for extended periods of time.

You'll be interested in an expedited disposition if the house has returned to bank owned. So you need to know and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any repairs done to it, with the repairs necessary to make the property marketable at full market value consistent with competing homes in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the special situation of a Real Estate Owned property, as well as the unique information you will need -- competing listings, neighborhood trends, and the like. You can bank on Michael Smith Appraisals, Inc to take on the appraisal of your REO professionally and efficiently. Contact us today.