Michael Smith Appraisals, Inc is a company you can trust when it comes to foreclosures in Floyd
There are particular appraisal challenges regarding a house in foreclosure or one that has gone back to the institution's possession.
When dealing with a property in foreclosure, it's important to differentiate the difference between fair market worth and "quick disposition" price to evaluate your possible charge-off liability. Michael Smith Appraisals, Inc has the background in both supplying snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your time line.
Michael Smith Appraisals, Inc has the qualifications to handle the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Michael Smith Appraisals, Inc.
Occupants of homes in foreclosure may be uncooperative to allowing an inspection of the property, thus presenting special challenges. Sometimes the properties show signs of vandalism, unfortunately by the former residents themselves. Or, it's common to find nobody has occupied the house for months or the home languishing in disrepair for extended periods of time.
For a property that has gone back to REO, you typically will want it off your hands as quickly as possible . But you might want to know and compare three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any work done to it, with the work necessary to make the home marketable at full market value corresponding with similar houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the unique situation of a Real Estate Owned house, as well as the specific information you will need -- competing listings, market trends, and the like. You can rely on Michael Smith Appraisals, Inc to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.