Farmer Appraisal Services is experienced when you need appraisals for foreclosures in Midland, TexasHouses in foreclosure and homes that have reverted to the bank's possession bring forth special appraisal challenges.
When dealing with a house in foreclosure, it's important to differentiate market value versus a "quick disposition" value to evaluate your likely charge-off liability. We can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that respect your urgency.
Owners of houses in foreclosure could be uncooperative to allowing an inspection of the house, thus presenting particular challenges. Sometimes the houses have been vandalized, often at the hands of the former residents themselves. Or, it's likely you'll discover a house at least abandoned or the home languishing in disrepair for extended periods of time.
For real estate that has reverted to REO, you most likely will be going for a speedy disposition. But you may want to know about and examine three values - "as-is", "as repaired", and "quick sale". These symbolize: