Foreclosure and Real Estate Owned Appraisals in Elmore County
Homes that have reverted to the financial institution's control and homes in foreclosure bring forth special appraisal challenges.
For a property in foreclosure, you should know the gap between fair market value and "quick disposition" worth to know your possible charge-off liability. Mike Noble Appraisals has the experience in both supplying snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time constraints.
The professionals at Mike Noble Appraisals have the experience to deal with the particular dynamics of a foreclosure appraisal. For a company you can count on, contact Mike Noble Appraisals.
Owners of homes in foreclosure, of course, can present particular challenges. They may be uncooperative to allowing an inspection of the home. If they abandoned the property already, they may have overlooked the care of the home for awhile - or even worse, ransacked the property.
For a house that has changed to REO, you likewise will be going for a speedy disposition . However, you may want to know about and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the home without any repairs done to it, with the repairs required to make the home marketable at full market value appropriate with similar real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone who'd prefer to finish the job themselves. Again, we understand your timeline and the specific circumstances of a bank owned property, in addition to the unique data you will need -- competing listings, neighborhood trends, and so forth. You can count on Mike Noble Appraisals to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.