Call Dan Myers Appraisals to discuss appraisals on Montgomery foreclosures

Foreclosure and Real Estate Owned Appraisals in Montgomery County

There are particular appraisal challenges when we're talking about a property in foreclosure or one that has reverted to the institution's holding.

When dealing with a house in foreclosure, it's important to recognize market value versus a "quick disposition" value to know your probable charge-off liability. At Dan Myers Appraisals, we have the knowledge in both supplying snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your timeline.

You need a company with the qualifications to work with the special dynamics of a foreclosure appraisal. For a company you can rely on, contact Dan Myers Appraisals.

Owners of dwellings in foreclosure may be uncooperative to allowing an inspection of the property, thus presenting special challenges. If they abandoned the property already, they could have ignored the care of the house for awhile - or worse, damaged the home.

If you're dealing with a house that has gone back to REO, you will interested in a quick disposition. But you may want to know about and analyze three values: as-is, as repaired, and "quick sale". These represent:

  • The value of the house without any work performed
  • Value with the work due to make the property marketable at full market value - comparable with similar homes in the area
  • Somewhere in between, with minimal investment in repairs - to get rid of the property quickly, probably as a "fixer-upper"
Again, we understand your urgency and the specific situation of an REO house, in addition to the special data you will need - competing listings, neighborhood trends, and the like. You can rely on Dan Myers Appraisals to handle the task of your bank owned property professionally and efficiently. Contact us today.