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Mid-Ohio Appraisal Services is the company you should trust when it comes to foreclosures in Columbus, Ohio
There are special appraisal challenges when it comes to a property in foreclosure or one that has returned to the bank's holding.
You should ascertain the meanings of "market value" and a "quick disposition" assessment to analyze your likely write-down liability when dealing with a house in foreclosure.
Mid-Ohio Appraisal Services has the experience in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your pressing needs.
Occupants of property in foreclosure might be unwilling to allow an inspection of the property, thus presenting particular challenges.
They may have abandoned the home already and/or overlooked the care of the home for quite some time - or even worse, vandalized the house.
For a house that has gone back to REO, you typically will want to get rid of it quickly. But you might want to know and review the concepts of "as-is", "as repaired", and "quick sale" values. These correspond to: - The value of the home without any work performed
- Value with the repairs called for to make the house marketable at full market value - appropriate with other properties in the area
- With minimal investment in repairs - to get rid of the home quickly, probably as a "fixer-upper"
Again, we understand your urgency and the special circumstances of a Real Estate Owned home, in addition to the special data you'll need - competing listings, market trends, and so forth. You can count on Mid-Ohio Appraisal Services to take on the appraisal of your bank owned property with expertise and professionalism. Contact us today.
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