Real Estate Owned and Foreclosure Appraisal in Polk County
Houses in foreclosure and homes that have reverted to the institution's possession present particular appraisal problems.
It's key to understand the difference between fair market worth and "quick disposition" value to evaluate your likely write-down liability when dealing with a property in foreclosure. We can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your time line.
Gregory James Company, Inc. has the experience to work with the unique dynamics of a foreclosure appraisal. Contact Gregory James Company, Inc. for a company you can rely on.
Special challenges can be present when working with owners of houses in foreclosure. They could be opposed to allowing an inspection of the home. Sometimes the subjects have been intentionally damaged, often by the former residents. Or, it's common to find a house at least abandoned or the home languishing in disrepair for extended periods of time.
If your home has already changed to REO, you will interested in a fast disposition. But you may want to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the repairs called for to make the home marketable at full market value consistent with the other real estate 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 specific situation of a Real Estate Owned property, in addition to the specific data you'll need -- competing listings, neighborhood trends, and the like. You can bank on Gregory James Company, Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today.
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