Foreclosure Appraisal in Lamar County
There are unique appraisal difficulties involved in a property in foreclosure or one that has gone back to the institution's possession.
When dealing with a house in foreclosure, you should ascertain the difference between fair market value and "quick disposition" value to analyze your possible charge-off liability. At R. Scott Pierce Appraisal Services, we have the experience in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your urgency.
You need a company who has the expertise to work with the specific dynamics of a foreclosure appraisal. Contact R. Scott Pierce Appraisal Services for a company you can count on.
Owners of houses in foreclosure might be unwilling to allow an inspection of the home, thus presenting unique challenges. They might have abandoned the home already and/or neglected care of the property for quite some time - or even worse, intentionally harmed the property.
For a house that has gone back to REO, you probably will be seeking a speedy disposition . However, you might want to know about and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the property without any work done to it, with the work necessary to make the house marketable at full market value consistent with competing homes in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, possibly as a "fixer-upper". Again, we understand your time line and the special situation of a Real Estate Owned property, as well as the specific information you'll need -- competing listings, market trends, and so forth. You can bank on R. Scott Pierce Appraisal Services to handle the appraisal of your REO with expertise and professionalism. Contact us today.