Foreclosure Appraisals in Tuscaloosa County
There are various appraisal challenges for a house in foreclosure or one that has gone back to the institution's control.
You need to know the difference between fair market price and "quick disposition" price to analyze your potential write-down liability when dealing with a property in foreclosure. Shamrock Appraisals, Inc. has the training in both supplying snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time constraints.
The professionals at Shamrock Appraisals, Inc. have the training to handle the special dynamics of a foreclosure appraisal. Contact Shamrock Appraisals, Inc. for a company you can trust.
Specific challenges might be present when dealing with owners of properties in foreclosure. They could be uncooperative to allowing an inspection of the property. Often the houses have been intentionally damaged, often by the residents themselves. Or, it's common to discover the families have moved out or the home languishing in disrepair for extended periods of time.
You will be interested in a speedy disposition if the house has gone back to bank owned. So you might want to know about and analyze three values: as-is, as repaired, and "quick sale." These represent the worth of the house without any work performed, with the repairs due to make the property marketable at full market value consistent with similar homes in the area, and, somewhere in between, with minimal investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your timeline and the unique circumstances of an REO home, in addition to the special data you'll need -- competing listings, market trends, and the like. You can rely on Shamrock Appraisals, Inc. to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.