Mike Noble Appraisals is experienced when you need appraisals for bank owned properties in Elmore
There are special appraisal difficulties when we're talking about a property in foreclosure or one that has returned to the financial institution's control.
It's key to ascertain the difference between fair market value and "quick disposition" value to analyze what losses you could realize when dealing with a house in foreclosure. Mike Noble Appraisals has the background in both presenting snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time constraints.
Mike Noble Appraisals has the training to handle the particular dynamics of a foreclosure appraisal. Contact Mike Noble Appraisals for a company you can trust.
Owners of houses in foreclosure, of course, can present special challenges. They could be disinclined to allow an inspection of the home. Often the subjects have been intentionally damaged, often by the former residents themselves. Or, it's common to discover a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
For real estate that has gone back to Real Estate Owned, you typically will want to get rid of it quickly . However, you might want to know about and examine three values: as-is, as repaired, and "quick sale." These represent the value of the property without any work performed, with the work required to make the home marketable at full market value appropriate with competing real estate in the neighborhood, and, somewhere in between, with minimal investment in repairs - selling the property quickly, possibly to someone who'd rather finish the job themselves. Again, we understand your timeline and the specific situation of an REO property, in addition to the unique data you'll need -- competing listings, neighborhood trends, and the like. You can count on Mike Noble Appraisals to take on the task of your bank owned property professionally and efficiently. Contact us today.