REO and Foreclosure Appraisals in Bay County
There are special appraisal problems when we're talking about a house in foreclosure or one that has reverted to the bank's control.
It's key to ascertain the difference between fair market value and "quick disposition" price to analyze what losses you could sustain when dealing with a home in foreclosure. The professionals at Giles Appraisal Group, Inc. can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency.
The professionals at Giles Appraisal Group, Inc. have the experience to handle the particular dynamics of a foreclosure appraisal. For a company you can trust, contact Giles Appraisal Group, Inc..
Owners of property in foreclosure, of course, can present unique challenges. They might be unwilling to allow an inspection of the property. Sometimes the homes have been vandalized, unfortunately by the former residents. Or, it's likely you'll find a house at least abandoned or the home neglected for long of time.
For real estate that has gone back to Real Estate Owned, you most likely will be seeking an expeditious disposition . But you may want to understand and compare three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work done to it, with the repairs due to make the house marketable at full market value consistent with competing real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, seemingly as a "fixer-upper". Again, we understand your time line and the specific circumstances of a Real Estate Owned home, as well as the specific data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Giles Appraisal Group, Inc. to handle the task of your REO professionally and efficiently. Contact us today.