Foreclosure and REO Appraisals in Polk County
There are specific appraisal difficulties regarding a home in foreclosure or one that has reverted to the institution's ownership.
It's key to ascertain the difference between fair market value and "quick disposition" worth to evaluate what losses you could realize when dealing with a property in foreclosure. Gregory James Company, Inc. has the knowledge in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time constraints.
We have the expertise to handle the specific dynamics of a foreclosure appraisal. Contact Gregory James Company, Inc. for a company you can rely on.
Specific challenges may be present when dealing with owners of property in foreclosure. They might be unwilling to allow an inspection of the house. If they deserted the property already, they might have neglected care of the property for awhile - or even worse, caused damage to the property.
If your property has already returned to Real Estate Owned, you will interested in a fast disposition. However, you might want to know and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs performed, with the repairs due to make the property marketable at full market value appropriate with competing houses in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the special situation of a bank owned property, as well as the specific data you'll need -- competing listings, market trends, and so forth. You can count on Gregory James Company, Inc. to handle the task of your REO with expertise and professionalism. Contact us today.