Real Estate Owned and Foreclosure Appraisal in Barren County
There are specific appraisal problems for a property in foreclosure or one that has returned to the institution's control.
When there is a house in foreclosure, it's important to differentiate the difference between fair market value and "quick disposition" value to evaluate your possible charge-off liability. The professionals at Graham Appraisal can provide both snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your urgency.
Graham Appraisal has the qualifications to deal with the unique dynamics of a foreclosure appraisal. Contact Graham Appraisal for a company you can count on.
Unique challenges might be present when working with owners of property in foreclosure. They may be unwilling to allow an inspection of the home. Sometimes the subjects have been intentionally damaged, often by the former residents. Or, it's likely you'll find nobody has lived in house for months or the home neglected for long of time.
If your house has already changed to bank owned, you will interested in a speedy disposition. But you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any work done to it, with the work needed to make the property marketable at full market value corresponding with competing real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, seemingly to someone who'd rather finish the job themselves. Again, we understand your time line and the specific situation of an REO property, as well as the specific information you will need -- competing listings, market trends, and the like. You can rely on Graham Appraisal to take on the task of your bank owned property with expertise and professionalism. Contact us today.