Real Estate Owned and Foreclosure Appraisals in Polk County
There are special appraisal challenges for a home in foreclosure or one that has returned to the lender's holding.
For a home in foreclosure, you might need to understand the gap between fair market value and "quick disposition" worth to know your likely charge-off liability. We can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your urgency.
You need a company who has the training to work with the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Gregory James Company, Inc..
Owners of properties in foreclosure, of course, can present unique challenges. They might be uncooperative to allowing an inspection of the home. Sometimes the properties show signs of vandalism, often at the hands of the former residents themselves. Or, it's likely you'll find the residents have moved out or the home neglected for extended periods of time.
If your home has already reverted to Real Estate Owned, you will interested in an expedited disposition. But you may want to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any work done to it, with the repairs needed to make the property marketable at full market value consistent with competing homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly to someone who'd prefer to finish the job themselves. Again, we understand your time line and the specific situation of an REO property, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can count on Gregory James Company, Inc. to handle the task of your bank owned property professionally and efficiently. Contact us today.
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