Jeanette Ford Appraisal Service is experienced when it comes to bank owned properties in Benson, North CarolinaHouses that have reverted to the bank's possession and houses in foreclosure present various appraisal challenges.
When dealing with a home in foreclosure, you need to understand market value versus a "quick disposition" price to analyze your likely charge-off liability. At Jeanette Ford Appraisal Service, we have the background in both presenting snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that consider your timeline.
Owners of houses in foreclosure, of course, can present particular challenges: For example, they might be disinclined to allow an inspection of the home. They might have left the property already and/or overlooked the care of the property for a long time - or unfortunately, damaged the house.
For a property that has already reverted to REO, you probably will want to get rid of it quickly. In any case, you'll still want to consider three angles for looking at the value of the subject property: