Michael Smith Appraisals, Inc is a company you can trust when it comes to bank owned properties in RomeThere are specific appraisal problems involved in a home in foreclosure or one that has returned to the bank's holding. You need to know the difference between fair market worth and "quick disposition" value to analyze what losses you could realize when dealing with a property in foreclosure. We can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your urgency. You need a company with the training to handle the specific dynamics of a foreclosure appraisal. Contact Michael Smith Appraisals, Inc for a company you can count on. Particular challenges can be present when dealing with owners of property in foreclosure. They may be disinclined to allow an inspection of the house. Sometimes the subjects have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for long of time. If your home has already returned to REO, you will interested in an expedited disposition. But you might want to know and review three values: as-is, as repaired, and "quick sale." These represent the worth of the property without any work performed, with the repairs due to make the property marketable at full market value commensurate with competing houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your urgency and the special situation of a bank owned property, as well as the specific information you'll need -- competing listings, market trends, and the like. You can count on Michael Smith Appraisals, Inc to take on the appraisal of your REO professionally and efficiently. Contact us today. |