REO and Foreclosure Appraisals in Montgomery County
There are various appraisal difficulties involved in a house in foreclosure or one that has reverted to the bank's ownership.
For a house in foreclosure, you might need to recognize the difference between fair market price and "quick disposition" to know your potential charge-off liability. H.M. Hoffman & Company has the knowledge in both presenting snapshots of fair market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your time constraints.
We have the qualifications to handle the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact H.M. Hoffman & Company.
Owners of property in foreclosure, of course, can present unique challenges. They could be uncooperative to allowing an inspection of the property. They may have deserted the property already and/or neglected care of the house for quite awhile - or worse, ransacked the home.
If your property has returned to Real Estate Owned, you will interested in an expedited disposition. But you might want to understand and review three values: as-is, as repaired, and "quick sale." These symbolize the worth of the house without any work done to it, with the work due to make the property marketable at full market value comparable with the other houses in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, most likely to someone inclined to finish the job themselves. Again, we understand your time line and the unique situation of a Real Estate Owned house, as well as the unique information you will need -- competing listings, market trends, and the like. You can count on H.M. Hoffman & Company to take on the appraisal of your REO with expertise and professionalism. Contact us today.