Mike Noble Appraisals is experienced when it comes to bank owned properties in Elmore
Homes in foreclosure and houses that have reverted to the lender's control create particular appraisal challenges.
When there is a home in foreclosure, you need to understand the difference between fair market price and "quick disposition" price to know your possible charge-off liability. At Mike Noble Appraisals, we have the experience in both providing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your timeline.
You need a company with the expertise to handle the unique dynamics of a foreclosure appraisal. Contact Mike Noble Appraisals for a company you can trust.
Occupants of dwellings in foreclosure might be opposed to allowing an inspection of the property, thus presenting special challenges. They might have moved out of the house already and/or ignored the care of the home for awhile - or worse, vandalized the house.
You will be interested in an expedited disposition if the house has gone back to Real Estate Owned. So you might want to know about and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any repairs performed, with the repairs necessary to make the home marketable at full market value consistent with the other real estate in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your timeline and the specific situation of an REO home, as well as the specific data you'll need -- competing listings, neighborhood trends, and so forth. You can count on Mike Noble Appraisals to take on the task of your bank owned property professionally and efficiently. Contact us today.