RL Carmichael & Assoc, Inc. is the company you should trust when you need appraisals for bank owned properties in Chesapeake, Norfolk, Portsmouth, Suffolk or Virginia Beach Virginia.

For a house in foreclosure, you would be wise to recognize the difference between the fair market and a "quick disposition" price to know your potential charge-off liability. At RL Carmichael & Assoc, Inc., we have the training in both furnishing snapshots of fair market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that consider your time constraints.

	You need a company with the experience to handle the special dynamics of a foreclosure appraisal. For a company you can count on, contact RL Carmichael & Assoc, Inc..

Occupants of properties in foreclosure may be disinclined to allow an inspection of the home, thus presenting specific challenges. Often the homes have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll discover a house at a minimum abandoned or the home neglected for extended periods of time.

For a house that has already changed to REO, you probably will be seeking an expedited disposition. However, you might want to know and review three values - "as-is", "as repaired", and "quick sale". These correspond to:

• The value of the property without any repairs performed
• Value with the repairs necessary to make the house marketable at full market value - consistent with other houses in the neighborhood
• With minor investment in repairs - to get rid of the property quickly, probably to someone inclined to finish the job themselves