Foreclosure and REO Appraisal in Polk County
Properties that have returned to the bank's holding and houses in foreclosure create unique appraisal problems.
You need to recognize the difference between fair market worth and "quick disposition" price to evaluate your possible charge-off liability when dealing with a home in foreclosure. Gregory James Company, Inc. has the knowledge in both producing snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your urgency.
You need a company with the experience to handle the special dynamics of a foreclosure appraisal. Contact Gregory James Company, Inc. for a company you can trust.
Unique challenges might be present when working with owners of property in foreclosure. They could be opposed to allowing an inspection of the property. Sometimes the houses have been intentionally damaged, unfortunately by the former residents. Or, it's common to find the residents have moved out or the home languishing in disrepair for extended periods of time.
For a house that has returned to Real Estate Owned, you likewise will be seeking a speedy disposition . But you may want to know about and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the property without any work performed, with the repairs called for to make the property marketable at full market value commensurate with competing houses in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably to someone inclined to finish the job themselves. Again, we understand your urgency and the special situation of a Real Estate Owned house, as well as the special data you'll need -- competing listings, market trends, and the like. You can count on Gregory James Company, Inc. to take on the task of your bank owned property professionally and efficiently. Contact us today.
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