Call Michael Smith Appraisals, Inc to order appraisals for Floyd foreclosures

Michael Smith Appraisals, Inc is experienced when it comes to bank owned properties in Floyd County

Homes in foreclosure and houses that have returned to the bank's possession bring forth unique appraisal problems.

It's vital to recognize the meanings of "market value" and a "quick disposition" value to evaluate your probable write-down liability when dealing with a property in foreclosure. At Michael Smith Appraisals, Inc, we have the background in both furnishing snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that understand your time line.


	You need a company who has the qualifications to deal with the unique dynamics of a foreclosure appraisal. For a company you can rely on, contact Michael Smith Appraisals, Inc.

Owners of properties in foreclosure, of course, can present particular challenges. They may be unwilling to allow an inspection of the house. Sometimes the properties show signs of vandalism, unfortunately at the hands of the residents themselves. Or, it's likely you'll find nobody has occupied the house for months or the home languishing in disrepair for long periods of time.

For a home that has returned to bank owned, you likewise will be going for a speedy resolution. Regardless, you'll still want to consider three ways of figuring the value of the subject property:

As Repaired. Possible market value with the work necessary to make the property marketable at full market value - comparable with other houses in the area

As-is. The market value of the house without any repairs performed

Quick sale. With minimal investment in repairs - to get rid of the property quickly, most likely as a "fixer-upper"

Again, we understand your urgency and the specific situation of a Real Estate Owned home, in addition to the special data you'll need - competing listings, neighborhood trends, and so forth. You can count on Michael Smith Appraisals, Inc to handle the appraisal of your bank owned property professionally and efficiently. Contact us today.