Appraisal Metrics is a company you can trust when you need appraisals for bank owned properties
Properties in foreclosure and houses that have gone back to the lender's holding present particular appraisal challenges.
When dealing with a property in foreclosure, you should understand the difference between fair market value and "quick disposition" price to evaluate your potential charge-off liability. At Appraisal Metrics, we have the training in both producing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that understand your time line.
The professionals at Appraisal Metrics have the training to work with the specific dynamics of a foreclosure appraisal. Contact Appraisal Metrics for a company you can trust.
Specific challenges can be present when working with owners of property in foreclosure. They could be opposed to allowing an inspection of the house. If they left the house already, they might have neglected care of the home for a long time - or even worse, caused damage to the house.
You will be interested in an expeditious disposition if the house has already reverted to bank owned. So 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 repairs due to make the home marketable at full market value comparable with competing homes in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your urgency and the specific circumstances of a bank owned property, in addition to the specific data you'll need -- competing listings, neighborhood trends, and the like. You can bank on Appraisal Metrics to handle the appraisal of your REO with expertise and professionalism. Contact us today.