Michael Smith Appraisals, Inc is experienced when you need appraisals for foreclosures in Rome
Houses that have gone back to the financial institution's control and properties in foreclosure present particular appraisal problems.
When dealing with a home in foreclosure, you should understand the difference between fair market value and "quick disposition" value to analyze your probable charge-off liability. Michael Smith Appraisals, Inc has the training in both furnishing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
The professionals at Michael Smith Appraisals, Inc have the experience to deal with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Michael Smith Appraisals, Inc.
Owners of properties in foreclosure, of course, can present unique challenges. They might be disinclined to allow an inspection of the house. Often the subjects show signs of vandalism, often by the former residents. Or, it's common to find the families have moved out or the home neglected for extended periods of time.
You will be interested in a speedy disposition if the home has already returned to bank owned. So you need to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any work done to it, with the repairs needed to make the property marketable at full market value comparable with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the specific circumstances of a Real Estate Owned home, as well as the special data you'll need -- competing listings, market trends, and the like. You can count on Michael Smith Appraisals, Inc to take on the task of your REO professionally and efficiently. Contact us today.