Alamance Appraisals is experienced when it comes to bank owned properties in Alamance
Houses in foreclosure and houses that have returned to the lender's ownership create unique appraisal problems.
For a property in foreclosure, you should recognize the gap between the fair market worth and "quick disposition" value to know your probable charge-off liability. We can provide both snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your timeline.
The professionals at Alamance Appraisals have the expertise to handle the special dynamics of a foreclosure appraisal. Contact Alamance Appraisals for a company you can trust.
Unique challenges can be present when dealing with owners of property in foreclosure. They may be unwilling to allow an inspection of the property. Sometimes the subjects have been ransacked, often at the hands of the residents themselves. Or, it's likely you'll discover nobody has lived in house for months or the home languishing in disrepair for extended periods of time.
If your house has changed to REO, you will interested in a fast disposition. But you might want to understand and review three values: as-is, as repaired, and "quick sale." These represent the worth of the home without any work done to it, with the repairs required to make the house marketable at full market value commensurate with similar real estate in the neighborhood, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your time line and the specific circumstances of a Real Estate Owned property, as well as the unique information you'll need -- competing listings, neighborhood trends, and the like. You can count on Alamance Appraisals to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.