Foreclosure and Real Estate Owned Appraisal in Lexington County
There are particular appraisal problems when it comes to a house in foreclosure or one that has gone back to the bank's control.
When there is a house in foreclosure, it's important to understand the difference between fair market price and "quick disposition" price to evaluate your possible charge-off liability. A. M. Appraisals has the training in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your timeline.
A. M. Appraisals has the expertise to work with the unique dynamics of a foreclosure appraisal. For a company you can count on, contact A. M. Appraisals.
Occupants of houses in foreclosure might be unwilling to allow an inspection of the home, thus presenting unique challenges. If they left the property already, they could have overlooked the care of the home for some time - or unfortunately, damaged the property.
You'll be interested in an expedited disposition if the home has returned to bank owned. So you might want to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the repairs needed to make the house marketable at full market value comparable with similar properties in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your timeline and the unique circumstances of a bank owned home, in addition to the specific information you'll need -- competing listings, neighborhood trends, and the like. You can rely on A. M. Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today.
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