REO and Foreclosure Appraisal in Forrest County
Homes in foreclosure and houses that have reverted to the financial institution's possession create various appraisal challenges.
It's key to ascertain the difference between fair market worth and "quick disposition" value to know what losses you stand to have to endure when dealing with a home in foreclosure. At R. Scott Pierce Appraisal Services, we have the background in both presenting snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your timeline.
R. Scott Pierce Appraisal Services has the qualifications to deal with the particular dynamics of a foreclosure appraisal. Contact R. Scott Pierce Appraisal Services for a company you can trust.
Owners of homes in foreclosure, of course, can present unique challenges. They might be disinclined to allow an inspection of the home. They might have moved out of the home already and/or neglected care of the property for some time - or even worse, damaged the property.
You will be interested in a speedy disposition if the house has changed to Real Estate Owned. So you need to know and compare three values: as-is, as repaired, and "quick sale." These correspond to the worth of the home without any repairs done to it, with the repairs due to make the house marketable at full market value consistent with the other properties in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely as a "fixer-upper". Again, we understand your time line and the unique circumstances of an REO house, in addition to the unique data you'll need -- competing listings, neighborhood trends, and the like. You can count on R. Scott Pierce Appraisal Services to take on the appraisal of your REO with expertise and professionalism. Contact us today.