R. Scott Pierce Appraisal Services is experienced when you need appraisals for bank owned properties in Forrest
There are special appraisal problems for a house in foreclosure or one that has reverted to the bank's possession.
You need to understand the difference between fair market value and "quick disposition" worth to evaluate what losses you might realize when dealing with a house in foreclosure. At R. Scott Pierce Appraisal Services, we have the experience in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
We have the expertise to deal with the unique dynamics of a foreclosure appraisal. For a company you can count on, contact R. Scott Pierce Appraisal Services.
Owners of properties in foreclosure may be opposed to allowing an inspection of the home, thus presenting particular challenges. Sometimes the properties have been intentionally damaged, unfortunately at the hands of the residents themselves. Or, it's likely you'll find a house at a minimum abandoned or the home languishing in disrepair for extended periods of time.
If your property has changed to Real Estate Owned, you will interested in a quick disposition. However, you might want to understand and examine three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs done to it, with the work due to make the property marketable at full market value consistent with the other homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone inclined to finish the job themselves. Again, we understand your timeline and the special situation of a bank owned house, in addition to the specific information you will need -- competing listings, market trends, and so forth. You can count on R. Scott Pierce Appraisal Services to take on the appraisal of your REO with expertise and professionalism. Contact us today.