REO and Foreclosure Appraisal in Cobb County
Properties that have reverted to the financial institution's control and properties in foreclosure create special appraisal problems.
You should recognize the difference between fair market worth and "quick disposition" worth to know your potential write-down liability when dealing with a property in foreclosure. Allatoona Appraisal has the knowledge in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your timeline.
You need a company with the experience to deal with the particular dynamics of a foreclosure appraisal. For a company you can trust, contact Allatoona Appraisal.
Owners of properties in foreclosure, of course, can present particular challenges. They could be disinclined to allow an inspection of the home. If they deserted the property already, they might have ignored the care of the home for quite awhile - or worse, caused damage to the home.
For real estate that has returned to Real Estate Owned, you probably will want to get rid of it quickly . But you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These correspond to the worth of the house without any work done to it, with the work required to make the property marketable at full market value comparable with competing 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 timeline and the unique situation of a Real Estate Owned property, as well as the specific information you will need -- competing listings, neighborhood trends, and so forth. You can count on Allatoona Appraisal to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.