Foreclosure/REO appraisal

Woody Fincham, President, does many of these types of reports.  From helping local agents with their BPO's to consultanting with familes that in need of pre-foreclosure help, we are capable and one of the best in Hampton Roads.

Woody has personally performed these types of reports for many different lenders and collateral risk compnies.  Some of the top name sin the industry have depended on us for their REO/Foreclosure needs. 

Homes in foreclosure and homes that have reverted to your institution's ownership present special appraisal challenges. At FM & Associates Appraisal Services, we're more than ready and able to help.

For a property in foreclosure, you may need to know the difference between fair market value and "quick disposition" value, to know your potential charge-off liability. At FM & Associates Appraisal Services, we have experience in both providing snapshots of fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline. 

Owners of property in foreclosure, of course, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal, and you should not hesitate to rely on us.

For a property that has already reverted to Real Estate Owned, you likewise will be interested in a quick disposition. But you may want to know and compare three values: As-is, as repaired, and "quick sale." These represent the value of the property without any work done to it, with the work required to make the property marketable to full market value commensurate with competing properties in the area, and, somewhere in-between, with minimal investment in repairs -- selling the property quickly, probably as a "fixer-upper." Again, we understand your timeline and the unique circumstances of an REO property, as well as the special information you'll need -- competing listings, market trends, and the like.

Please browse our website to learn more about our qualifications, expertise and services offered.