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Jim Murray Appraisal Service is experienced when it comes to foreclosures in Johnson City, New York
Properties that have gone back to the financial institution's ownership and houses in foreclosure bring forth unique appraisal challenges.
When dealing with a home in foreclosure, it's important to ascertain market value versus a "quick disposition" assessment to evaluate your likely charge-off liability.
Jim Murray Appraisal Service has the training in both presenting snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that respect your urgency.
Owners of properties in foreclosure, naturally, can present special challenges: For example, they could be disinclined to allow us access to the property.
If they deserted the property already, they may have ignored the care of the house for quite awhile - or unfortunately, caused damage to the house.
For a home that has already returned to REO, you most likely will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for determining the value of the subject property:- As Repaired. Possible market value with the work necessary to make the home marketable at full market value - consistent with competing homes in the neighborhood
- As-is. The market value of the property without any work performed
- Quick sale. With minor investment in repairs - to offload the property quickly, seemingly to someone who'd prefer to finish the job themselves
Again, we understand your urgency and the special circumstances of a Real Estate Owned home, as well as the special data you will need - competing listings, neighborhood trends, and the like. You can rely on Jim Murray Appraisal Service to take on the appraisal of your bank owned property professionally and efficiently. Contact us today.
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