Foreclosure and Real Estate Owned Appraisals in Forsyth County
Houses in foreclosure and houses that have gone back to the lender's holding create specific appraisal problems.
It's vital to know the difference between fair market price and "quick disposition" worth to know what losses you could sustain when dealing with a home in foreclosure. Herrin Appraisal Company has the knowledge in both producing snapshots of fair market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your timeline.
The professionals at Herrin Appraisal Company have the training to handle the particular 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 specific challenges. They might be uncooperative to allowing an inspection of the house. Often the properties show signs of vandalism, often by the former residents. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
You'll be interested in a speedy disposition if the house has changed to Real Estate Owned. So you need to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the house without any work done to it, with the repairs necessary to make the home marketable at full market value comparable with competing properties in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the unique circumstances of an REO property, in addition to the unique data you'll need -- competing listings, neighborhood trends, and so forth. You can bank on Herrin Appraisal Company to take on the task of your REO with expertise and professionalism. Contact us today.
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