Foreclosure and REO Appraisal in Elmore CountyReal Estate in foreclosure and homes that have returned to the financial institution's ownership create various appraisal problems. When dealing with a house in foreclosure, you need to ascertain the difference between fair market price and "quick disposition" price to evaluate your probable charge-off liability. We can provide both snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your timeline. The professionals at Mike Noble Appraisals have the training to work with the special dynamics of a foreclosure appraisal. For a company you can count on, contact Mike Noble Appraisals. Owners of homes in foreclosure, of course, can present specific challenges. They might be disinclined to allow an inspection of the property. Sometimes the homes have been intentionally damaged, unfortunately by the residents. Or, it's likely you'll discover nobody has occupied the house for months or the home neglected for long of time. You will be interested in an expeditious disposition if the house has already gone back to Real Estate Owned. So you need to know about and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the property without any work performed, with the repairs required to make the property marketable at full market value consistent with competing homes in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, possibly to someone inclined to finish the job themselves. Again, we understand your time line and the specific circumstances of a bank owned home, as well as the special information you'll need -- competing listings, neighborhood trends, and the like. You can bank on Mike Noble Appraisals to handle the appraisal of your REO with expertise and professionalism. Contact us today. |