Real Estate Owned Appraisals in Polk County
There are unique appraisal challenges when we're talking about a house in foreclosure or one that has returned to the lender's possession.
For a house in foreclosure, you need to understand the difference between fair market worth and "quick disposition" price to know your possible charge-off liability. At Gregory James Company, Inc., we have the training in both providing snapshots of fair market value for our mortgage clients, in addition to "quick sale" forecasts that understand your urgency.
Gregory James Company, Inc. has the qualifications to work with the unique dynamics of a foreclosure appraisal. Contact Gregory James Company, Inc. for a company you can count on.
Owners of property in foreclosure may be unwilling to allow an inspection of the house, thus presenting unique challenges. Sometimes the subjects have been ransacked, often at the hands of the former residents. Or, it's common to discover the previous owners have moved out or the home languishing in disrepair for extended periods of time.
You'll be interested in an expedited disposition if the property has changed to Real Estate Owned. So you may want to understand and examine three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work performed, with the repairs needed to make the property marketable at full market value comparable with the other real estate in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your urgency and the unique circumstances of a Real Estate Owned house, as well as the special data you'll need -- competing listings, market trends, and the like. You can bank on Gregory James Company, Inc. to take on the task of your bank owned property with expertise and professionalism. Contact us today.
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