REO and Foreclosure Appraisal in Elmore County
Homes that have reverted to the financial institution's control and homes in foreclosure create specific appraisal difficulties.
It's vital to differentiate the difference between fair market price and "quick disposition" value to evaluate your probable charge-off liability when dealing with a property in foreclosure. Mike Noble Appraisals has the training in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your time constraints.
We have the training to deal with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Mike Noble Appraisals.
Owners of properties in foreclosure could be disinclined to allow an inspection of the house, thus presenting particular challenges. If they abandoned the home already, they may have ignored the care of the home for quite some time - or worse, ransacked the home.
For real estate that has changed to Real Estate Owned, you probably will want to get rid of it quickly . However, you may want to know and analyze three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any repairs performed, with the work needed to make the property marketable at full market value consistent with the other real estate in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific circumstances of an REO house, in addition to the unique information you'll need -- competing listings, market trends, and the like. You can count on Mike Noble Appraisals to take on the appraisal of your REO professionally and efficiently. Contact us today.