Call Benchmark Appraising, LLC to discuss valuations pertaining to Forsyth foreclosures

Real Estate Owned and Foreclosure Appraisal in Forsyth County

There are unique appraisal difficulties regarding a property in foreclosure or one that has reverted to the bank's holding.

For a house in foreclosure, you would be wise to know the gap between the market price and a "quick disposition" price to know your probable charge-off liability. Benchmark Appraising, LLC has the background in both supplying snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your time line.

You need a company with the training to work with the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Benchmark Appraising, LLC.

Owners of houses in foreclosureunfortunately can present particular challenges. They could be unwilling to allow an inspection of the house. Often the subjects have been vandalized, often by the former residents themselves. Or, it's common to find the families have moved out or the home languishing in disrepair for long periods of time.

For real estate that has already reverted to REO, you typically will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for determining the value of the asset (or in some cases, liability):

  • As Repaired. Possible market value with the repairs required to make the home marketable at full market value - appropriate with competing real estate in the area
  • As-is. The value of the property without any repairs performed
  • Quick sale. With minimal investment in repairs - to offload the home quickly, most likely as a "fixer-upper"
Again, we understand your time line and the unique situation of a bank owned house, as well as the specific data you will need - competing listings, market trends, and so forth. You can count on Benchmark Appraising, LLC to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.