Herrin Appraisal Company is experienced when you need appraisals for bank owned properties in Clemmons
Properties that have returned to the financial institution's holding and properties in foreclosure present specific appraisal challenges.
When dealing with a home in foreclosure, it's important to know the difference between fair market value and "quick disposition" worth to analyze your likely charge-off liability. The professionals at Herrin Appraisal Company can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time line.
You need a company with the training to work with the special dynamics of a foreclosure appraisal. Contact Herrin Appraisal Company for a company you can count on.
Owners of property in foreclosure, of course, can present particular challenges. They could be uncooperative to allowing an inspection of the property. Sometimes the properties have been vandalized, often at the hands of the residents. Or, it's likely you'll discover nobody has occupied the house for months or the home neglected for extended periods of time.
You'll be interested in a quick disposition if the home has already reverted to Real Estate Owned. So you need to know and examine three values: as-is, as repaired, and "quick sale." These symbolize the value of the home without any work done to it, with the work needed to make the property marketable at full market value commensurate with the other real estate in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, likely to someone who'd rather finish the job themselves. Again, we understand your timeline and the specific circumstances of a Real Estate Owned house, in addition to the special information you'll need -- competing listings, neighborhood trends, and so forth. You can rely on Herrin Appraisal Company to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.
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