Preferred Appraisal Service is a company you can trust when it comes to bank owned properties in St George and Washington County.There are particular appraisal difficulties when it comes to a house in foreclosure or one that has become a REO. For a home in foreclosure, you might need to recognize the gap between fair market value and "quick sale" value to know your probable charge-off liability. Preferred Appraisal Service has the background in both producing snapshots of fair market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline. You need a company who has the experience to handle the special dynamics of a foreclosure appraisal. Contact Preferred Appraisal Service for a company you can rely on. Occupants of a property in foreclosure might be opposed to allowing an inspection of the property, thus presenting special challenges. Sometimes the homes show signs of vandalism, often at the hands of the residents, the home may show signs of neglect or even have been abandoned for months. If the property is on your books as a REO, you will be interested in a speedy disposition. But you might want to know and compare three values: as-is, as repaired, and "quick sale." These correspond to the value of the house without any work performed, with the repairs necessary to make the home marketable at full market value comparable with similar real estate in the neighborhood, and, somewhere in the middle, with minor investment in repairs - selling the property quickly, likely as a "fixer-upper". Again, we understand your urgency and the specific situation of a REO property, in addition to the specific data you will need -- competing listings, neighborhood trends, and the like. You can bank on Preferred Appraisal Service to take on the appraisal of your bank owned property professionally and efficiently. Contact us today. |