Any homes in foreclosure, and homes that have reverted to the ownership of a financial institution such as a bank (REO or real estate-owned properties), represent very unique challenges for accurate appraisals.
For example, if you have a property in foreclosure, you might need to know the difference between the so-called quick disposition value and fair market value for the property. Knowing this will allow you to make the best decision to recoup most of your lost investment or maximize your profits. MHS Appraisal can help by providing comprehensive, thorough appraisal services to determine the true value of the property in question.
Of course, this is easier said than done! Many owners of properties in foreclosure present unique challenges, such as facing tenants unwilling to allow property inspections. Alternatively, they may have abandoned the property, neglected to care for the property, or caused damage to the property intentionally.
Fortunately, MHS Appraisal’s team of licensed appraisal experts has the experience to navigate these challenging dynamics. We can negotiate with homeowners, analyze rundown or damaged homes accurately, and perform market analyses that leave you feeling confident about the listing price you set for foreclosed or REO homes.
If your property has already reverted to real estate owned (REO), you’ll likely want a quick disposition. When you hire MHS Appraisal, we can offer you three different valuations of your property:
- As is, which represents the price of a property as it is without any work being done to it
- As repaired, it represents the price of the property if you were to repair it to a certain extent
- Quick sale, which represents the price of the property somewhat in between the two extremes above
With MHS Appraisal, you’ll know the valuation range for a property in foreclosure and be able to make a wise decision for your organization. We can help you determine whether it’s more cost-effective to simply sell a foreclosed or REO property as is or if you should spend some time repairing it before you get up for auction or selling on the market. Don’t wait; contact MHS Appraisal today to learn more about our foreclosure appraisal services.