REO and Foreclosure Appraisal in Lamar County
There are special appraisal problems when we're talking about a home in foreclosure or one that has gone back to the financial institution's ownership.
It's key to ascertain the difference between fair market price and "quick disposition" worth to know your potential charge-off liability when dealing with a home in foreclosure. The professionals at R. Scott Pierce Appraisal Services can provide both snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.
You need a company with the qualifications to handle the special dynamics of a foreclosure appraisal. Contact R. Scott Pierce Appraisal Services for a company you can trust.
Owners of property in foreclosure, of course, can present special challenges. They may be disinclined to allow an inspection of the property. Often the houses have been intentionally damaged, often at the hands of the residents. Or, it's likely you'll find a house at least abandoned or the home languishing in disrepair for extended periods of time.
You'll be interested in an expeditious disposition if the house has already reverted to Real Estate Owned. So you might want to understand and examine three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any repairs performed, with the repairs needed to make the property marketable at full market value comparable with similar houses in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, seemingly to someone who'd rather finish the job themselves. Again, we understand your urgency and the special situation of a Real Estate Owned property, in addition to the specific information you will need -- competing listings, market trends, and the like. You can count on R. Scott Pierce Appraisal Services to handle the task of your REO professionally and efficiently. Contact us today.