Allatoona Appraisal is experienced when it comes to bank owned properties in Acworth
There are special appraisal difficulties involved in a property in foreclosure or one that has gone back to the lender's ownership.
When there is a house in foreclosure, you need to ascertain the difference between fair market price and "quick disposition" worth to analyze your possible charge-off liability. Allatoona Appraisal has the experience in both supplying snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that take into account your time constraints.
You need a company who has the qualifications to work with the unique dynamics of a foreclosure appraisal. Contact Allatoona Appraisal for a company you can rely on.
Owners of homes in foreclosure, of course, can present particular challenges. They may be unwilling to allow an inspection of the house. Often the houses show signs of vandalism, often by the residents. Or, it's likely you'll find nobody has lived in house for months or the home neglected for extended periods of time.
You will be interested in a speedy disposition if the house has already returned to REO. So you need to know and analyze three values: as-is, as repaired, and "quick sale." These represent the value of the house without any repairs performed, with the repairs due to make the property marketable at full market value corresponding with the other properties in the area, and, somewhere in the middle, with minimal investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your timeline and the specific situation of a Real Estate Owned house, as well as the special information you will need -- competing listings, neighborhood trends, and the like. You can count on Allatoona Appraisal to handle the task of your bank owned property with expertise and professionalism. Contact us today.