Michael Smith Appraisals, Inc is a company you can trust when you need appraisals for bank owned properties in FloydHomes that have returned to the institution's ownership and houses in foreclosure present unique appraisal challenges. You should differentiate the difference between fair market worth and "quick disposition" price to evaluate your potential write-down liability when dealing with a home in foreclosure. Michael Smith Appraisals, Inc has the training in both supplying snapshots of fair market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your urgency. You need a company who has the experience to deal with the unique dynamics of a foreclosure appraisal. For a company you can count on, contact Michael Smith Appraisals, Inc. Owners of houses in foreclosure might be opposed to allowing an inspection of the property, thus presenting particular challenges. If they abandoned the home already, they could have overlooked the care of the house for a long time - or even worse, damaged the property. For a house that has reverted to Real Estate Owned, you typically will want to get rid of it quickly . But you might want to know and analyze three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any repairs done to it, with the repairs called for to make the house marketable at full market value corresponding with similar houses in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the special circumstances of a bank owned house, as well as the specific data you'll need -- competing listings, market trends, and the like. You can bank on Michael Smith Appraisals, Inc to take on the task of your REO professionally and efficiently. Contact us today. |