REO Appraisal in Cobb County
There are specific appraisal difficulties when we're talking about a property in foreclosure or one that has returned to the financial institution's possession.
When dealing with a house in foreclosure, it's important to know the difference between fair market value and "quick disposition" price to know your likely charge-off liability. Allatoona Appraisal has the training in both presenting snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your time constraints.
You need a company with the training to deal with the specific dynamics of a foreclosure appraisal. Contact Allatoona Appraisal for a company you can count on.
Occupants of houses in foreclosure may be disinclined to allow an inspection of the house, thus presenting unique challenges. If they have abandoned the home already, they might have not taken care of the house for a long time - or even worse, ransacked the house.
For a home that has returned to Real Estate Owned, you probably will want it off your hands as quickly as possible . However, you may want to understand and review three values: as-is, as repaired, and "quick sale." These represent the value of the property without any repairs done to it, with the repairs required to make the home marketable at full market value appropriate with the other real estate in the area, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your time line and the specific circumstances of a bank owned home, in addition to the special information you'll need -- competing listings, neighborhood trends, and the like. You can bank on Allatoona Appraisal to handle the appraisal of your REO with expertise and professionalism. Contact us today.