|
|
Townsend Appraisal Services is experienced when it comes to bank owned properties in Cherokee County Properties in foreclosure and properties that have gone back to the bank's possession bring forth various appraisal problems.
For a home in foreclosure, you need to know the difference between market price and a "quick disposition" value to know your possible charge-off liability. Townsend Appraisal Services has the background in both presenting snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that understand your time constraints.
Unique challenges can be present when working with owners of houses in foreclosure. They may be uncooperative to allowing an inspection of the house. If they have abandoned the home already, they might have neglected care of the property for quite some time - or worse, caused damage to the house.
For real estate that has returned to bank owned, you typically will want it off your hands as quickly as possible. But you might want to know about and compare the definitions of "as-is", "as repaired", and "quick sale" values. These symbolize:
- The value of the property without any work performed
- Possible value with the repairs necessary to make the home marketable at full market value - appropriate with similar houses in the area
- With minor investment in repairs - to get rid of the home quickly, likely as a "fixer-upper"
Again, we understand your urgency and the special circumstances of an REO property, as well as the special data you'll need - competing listings, neighborhood trends, and the like. You can rely on Townsend Appraisal Services to handle the task of your bank owned property with expertise and professionalism. Contact us today.
|
|
