A. M. Appraisals is experienced when it comes to bank owned properties in Lexington
Homes that have gone back to the financial institution's ownership and homes in foreclosure create special appraisal challenges.
For a house in foreclosure, you should understand the difference between fair market value and "quick disposition" price to know your potential charge-off liability. We can provide both snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your urgency.
The professionals at A. M. Appraisals have the training to work with the specific dynamics of a foreclosure appraisal. For a company you can count on, contact A. M. Appraisals.
Owners of houses in foreclosure, of course, can present unique challenges. They could be disinclined to allow an inspection of the house. Sometimes the homes show signs of vandalism, unfortunately at the hands of the residents. Or, it's common to find nobody has occupied the house for months or the home neglected for long of time.
You will be interested in a speedy disposition if the property has already gone back to bank owned. So you may want to know about and examine three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any work done to it, with the work necessary to make the house marketable at full market value commensurate with similar houses in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone who'd rather finish the job themselves. Again, we understand your urgency and the unique circumstances of a bank owned property, as well as the unique information you'll need -- competing listings, neighborhood trends, and the like. You can count on A. M. Appraisals to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.