Call Reamer Appraisals Inc. when you need appraisals for Grand Traverse foreclosures

Foreclosure and REO Appraisals in Grand Traverse County

There are special appraisal challenges regarding a home in foreclosure or one that has reverted to the lender's control.

For a property in foreclosure, you would be wise to know the difference between the market value and a "quick disposition" to know your potential charge-off liability. Reamer Appraisals Inc. has the background in both supplying snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time constraints.

You need a company who has the experience to deal with the specific dynamics of a foreclosure appraisal. Contact Reamer Appraisals Inc. for a company you can trust.

Special challenges can be present when dealing with owners of properties in foreclosure. They may be uncooperative to allowing an inspection of the property. They may have abandoned the house already and/or overlooked the care of the home for quite some time - or gone as far as intentionally harmed the home.

For real estate that has changed to Real Estate Owned, you likewise will be interested in an expeditious resolution. Regardless, you'll still want to consider three ways of determining the value of the subject property:

  • As Repaired. Possible market value with the repairs needed to make the home marketable at full market value - consistent with similar real estate in the neighborhood
  • As-is. The value of the property without any repairs done to it
  • Quick sale. With minor investment in repairs - to sell the home quickly, likely as a "fixer-upper"
Again, we understand your timeline and the unique circumstances of a Real Estate Owned property, in addition to the specific information you will need - competing listings, market trends, and the like. You can bank on Reamer Appraisals Inc. to take on the task of your REO with expertise and professionalism. Contact us today.