Appraisal Associates of North Georgia is the company you should trust when you need appraisals for bank owned properties in Clarke County
There are various appraisal challenges for a property in foreclosure or one that has returned to the lender's possession.
You need to know the meanings of "market value" and a "quick disposition" assessment to know your likely write-down liability when dealing with a home in foreclosure. The professionals at Appraisal Associates of North Georgia can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your time line.
Owners of homes in foreclosureunfortunately can present special challenges: For example, they might be opposed to allowing the appraiser access to the property. They may have abandoned the house already and/or neglected care of the home for quite awhile - or worse, vandalized the house.
For a house that has reverted to Real Estate Owned, you probably will be seeking a fast disposition. Regardless, you'll still want to consider three angles for figuring the value of the real estate at hand:
As Repaired. Value with the repairs required to make the house marketable at full market value - commensurate with competing homes in the area
As-is. The market value of the property without any work done to it
Quick sale. Somewhere in between, with minimal investment in repairs - to sell the home quickly, seemingly as a "fixer-upper"
Again, we understand your time line and the special situation of a bank owned property, as well as the special information you'll need - competing listings, market trends, and so forth. You can bank on Appraisal Associates of North Georgia to handle the task of your REO with expertise and professionalism. Contact us today.
