REO Appraisal in Lexington County
There are special appraisal problems for a home in foreclosure or one that has returned to the financial institution's ownership.
When dealing with a property in foreclosure, it's important to understand the difference between fair market worth and "quick disposition" worth to know your potential charge-off liability. A. M. Appraisals has the training in both furnishing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that take into account your urgency.
You need a company with the experience to deal with the particular dynamics of a foreclosure appraisal. Contact A. M. Appraisals for a company you can count on.
Occupants of houses in foreclosure could be uncooperative to allowing an inspection of the property, thus presenting particular challenges. They could have deserted the house already and/or neglected care of the home for awhile - or unfortunately, damaged the home.
If your house has already gone back to bank owned, you will interested in a speedy disposition. But you might want to understand and analyze three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any repairs performed, with the repairs called for to make the property marketable at full market value appropriate with similar homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your urgency and the unique situation of a bank owned property, as well as the specific data you will need -- competing listings, neighborhood trends, and so forth. You can count on A. M. Appraisals to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.
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