REO Appraisals in Cobb County
There are particular appraisal problems when we're talking about a property in foreclosure or one that has returned to the lender's holding.
For a property in foreclosure, you need to recognize the gap between fair market price and "quick disposition" value to know your likely charge-off liability. Allatoona Appraisal has the experience in both producing snapshots of fair market value for our mortgage originating clients, in addition to "quick sale" forecasts that understand your urgency.
You need a company who has the expertise to work with the special dynamics of a foreclosure appraisal. Contact Allatoona Appraisal for a company you can rely on.
Occupants of houses in foreclosure may be opposed to allowing an inspection of the property, thus presenting special challenges. Often the properties have been vandalized, often at the hands of the former residents. Or, it's common to discover nobody has occupied the house for months or the home neglected for extended periods of time.
You'll be interested in a fast disposition if the property has changed to Real Estate Owned. So you need to know about and compare three values: as-is, as repaired, and "quick sale." These symbolize the value of the house without any work done to it, with the work needed to make the home marketable at full market value corresponding with the other real estate in the neighborhood, and, somewhere in between, with minor investment in repairs - selling the property quickly, probably as a "fixer-upper". Again, we understand your timeline and the unique circumstances of an REO house, as well as the special information you will need -- competing listings, market trends, and the like. You can count on Allatoona Appraisal to take on the task of your bank owned property professionally and efficiently. Contact us today.