Giles Appraisal Group, Inc. is a company you can trust when it comes to foreclosures in Bay
There are unique appraisal challenges when we're talking about a property in foreclosure or one that has returned to the bank's ownership.
For a property in foreclosure, you need to know the gap between the fair market worth and "quick disposition" price to know your probable charge-off liability. 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 timeline.
You need a company who has the experience to deal with the unique dynamics of a foreclosure appraisal. Contact Giles Appraisal Group, Inc. for a company you can rely on.
Special challenges may be present when dealing with owners of property in foreclosure. They may be unwilling to allow an inspection of the property. Often the properties have been vandalized, often by the residents themselves. Or, it's likely you'll discover the previous owners have moved out or the home languishing in disrepair for extended periods of time.
If your property has returned to bank owned, you will interested in a quick disposition. However, you may want to understand and compare three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any work done to it, with the work required to make the house marketable at full market value commensurate with competing homes in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely to someone who'd rather finish the job themselves. Again, we understand your urgency and the specific situation of a bank owned home, as well as the special data you will need -- competing listings, market trends, and the like. You can rely on Giles Appraisal Group, Inc. to handle the appraisal of your REO professionally and efficiently. Contact us today.