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Real Estate Owned Appraisal in Polk County Properties that have gone back to the institution's ownership and properties in foreclosure present special appraisal challenges.
When dealing with a house in foreclosure, you should ascertain market value versus a "quick disposition" value to analyze your probable charge-off liability. We can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your pressing needs.
Owners of homes in foreclosureunfortunately can present specific challenges. They may be unwilling to allow the appraiser access to the property. Often the homes have been vandalized, unfortunately at the hands of the residents. Or, it's common to discover a house at least abandoned or the home languishing in disrepair for long periods of time.
For real estate that has reverted to bank owned, you probably will be going for an expedited resolution. But you might want to know about and analyze the meanings of "as-is", "as repaired", and "quick sale" values. These symbolize:
- The value of the property without any work performed
- Value with the repairs called for to make the house marketable at full market value - consistent with other properties in the neighborhood
- Somewhere in between, with minor investment in repairs - to get rid of the property quickly, seemingly to someone who'd prefer to finish the job themselves
Again, we understand your time line and the unique circumstances of a Real Estate Owned home, as well as the specific information you will need - competing listings, market trends, and so forth. You can count on Gregory James Company, Inc. to handle the task of your bank owned property with expertise and professionalism. Contact us today.
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Today's Rates:
| 30-yr Fixed | 3.87% | 4% | | 15-yr Fixed | 3.14% | 3.31% | | 1-yr Adj | 2.76% | 3.42% |
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