Properties that have gone back to the bank's ownership and homes in foreclosure present various appraisal problems.
You should understand the meanings of "market value" and a "quick disposition" price to evaluate your probable write-down liability when dealing with a home in foreclosure. At Atlantic Appraisal Services LLC, we have the experience in both supplying snapshots of market value for our mortgage clients, as well as "quick sale" forecasts that understand your timeline.
Owners of property in foreclosure can present unique challenges. For example, they may be disinclined to allow an inspection of the house. If they have abandoned the house already, they may have not taken care of the property for quite awhile - or even worse, caused damage to the property.
If you're dealing with property that has reverted to Real Estate Owned, you will interested in an expedited disposition. However, you may want to know and compare three values: as-is, as repaired, and "quick sale". These represent:
The value of the property without any repairs done to it
Value with the work due to make the property marketable at full market value - comparable with competing homes in the neighborhood
Somewhere in the middle, with minimal investment in repairs - to offload the property quickly, seemingly to someone inclined to finish the job themselves
Again, we understand your timeline and the special circumstances of a Real Estate Owned house, as well as the unique information you will need - competing listings, neighborhood trends, and so forth. You can bank on Atlantic Appraisal Services LLC to take on the appraisal of your REO professionally and efficiently. Contact us today.
181 E Evans St Ste C-9 Florence, SC 29506-2511 Phone: Fax:
