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Allstate Appraisal Associates, Inc. is the company you should trust when you need appraisals for foreclosures in Iredell County
There are specific appraisal challenges when we're talking about a property in foreclosure or one that has reverted to the bank's holding.
For a house in foreclosure, you need to recognize the gap between the market value and a "quick disposition" price to know your likely charge-off liability.
The professionals at Allstate Appraisal Associates, Inc. can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your urgency.
Special challenges may be present when dealing with owners of homes in foreclosure. They may be uncooperative to allowing an inspection of the home.
Sometimes the houses have been ransacked, often at the hands of the residents. Or, it's likely you'll discover a house at a minimum abandoned or the home languishing in disrepair for long periods of time.
If you're dealing with home that has already reverted to bank owned, you will interested in an expedited disposition. However, you might want to know and analyze three values: as-is, as repaired, and "quick sale". These represent: - The value of the house without any work performed
- Possible value with the repairs necessary to make the property marketable at full market value - commensurate with competing homes in the neighborhood
- Somewhere in between, with minor investment in repairs - to offload the home quickly, most likely as a "fixer-upper"
Again, we understand your timeline and the special circumstances of a bank owned home, in addition to the specific information you will need - competing listings, market trends, and the like. You can count on Allstate Appraisal Associates, Inc. to handle the task of your REO with expertise and professionalism. Contact us today.
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