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When the lender holds a home in foreclosure or already has repossesses a property, it presents certain appraisal challenges. Pilgrim Colonial is experienced and ready to work on this type of appraisal. 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. Pilgrim Colonial Appraisal Services is experienced in both providing data regarding fair market value for our mortgage lending and servicing clients as well as "quick sale" forecasts that understand your timeline. Inspections can be sensitive when a homeowner is present. If the homeowner has already abandoned the property, there may be deferred maintenance or damage. We have the experience and training to deal with the special dynamics of a foreclosure appraisal. Consider talking to one of our appraisers today to handle this matter. 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." We understand your unique circumstances of an REO property, as well as the special information you'll need. Order Today

Are you a lender or firm that is seeking an appraisal of limited scope? Pilgrim Colonial Appraisal Services offers desktop valuation estimates for a discounted fee. Due to the nature of a desktop appraisal and without benefit of a physical inspection of that equipment, critical assumptions are made as to condition, age, location, physical appearance, ease of removal, and other pertinent factors that may affect value. An aggregate value is determined in a limited appraisal report including all limiting conditions, critical assumptions, definitions of values, approaches to value, conducted and written to comply with all standards of USPAP (Uniform Standards of Professional Appraisal Practice). Order a Desktop Appraisal

Appraising proposed construction can be challenging. An appraiser will often utilize documents from builders to get an accurate value. With greater detail, the more accurate an appraiser can be. Documents used by the appraiser are: Specifications sheet - Lays out all the components used in the home Building plans - The design and the floor plan that includes the sizes and number of rooms and dimensions of the structure Cost breakdown -The total expenses during the construction of the home. This includes the cost of designing, building, and labor. This may prove the most useful document in determining value. Plot plan - A blueprint for the surrounding property. Accessory buildings as well as utility lines, septic systems and drainage are covered in the plot plan. The more detailed these documents are, the greater the accuracy of the analysis will be. Typically the cost approach to value is heavily weighted to arrive at the home's worth. This method, of course, takes into account the cost of total replacement. An appraiser may also consider a market approach valuation. After the home is built, the appraiser may do a second analysis to confirm the home actually constructed matches the appraisal plans and specs.

No one should be held waiting for an appraisal. Pilgrim Colonial offers speedy turn-around times. We also offer Rush and Over-night services for most of our appraisals Please consider that not all properties are eligible for rush services due to their possible extensive research nature and our existing commitments may limit our ability to provide the rush service for you. Pilgrim Colonial  Rush Appraisal services guarantees that your appraisal report is electronically delivered to you within 48 hours of the property inspection (including holidays and weekends). Over-night appraisal service guarantees that your appraisal report is electronically delivered to you within 24 hours of the property inspection (including holidays and weekends). Please contact us today for a quoted fee.

APPRAISER PRIVACY STATEMENT Conforms with the Gramm-Leach-Bliley Act 1. Our privacy principles: We are committed to protecting our clients’ personal and financial information. This privacy statement addresses what nonpublic personal information we collect, what we do with it, and how we protect it. 2. How we protect information: We restrict access to any nonpublic personal information about you that we collect to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. 3. Where do we collect information from: We may collect and maintain nonpublic personal information in the course of providing you with the appraisal services you requested, including: Information we receive from you on applications, letters of engagement, forms found on our web site, correspondence, or conversations, such as your name, address, telephone number and social security number. Information about your transactions with us, our affiliates or others, including, but not limited to, payment history, parties to transactions and other financial information. Information we receive from a consumer reporting agency such as a credit history. 4. What information we may disclose: OPTION #1: We do not disclose nonpublic personal information about clients or former clients except as permitted by law. (If you select this option and you in fact don’t share information with anyone, then your form is done – if you share information as permitted under one of the exceptions, i.e., as permitted by law, then you will need to include that disclosure. See, for example part C(3) of the article on preparing a disclosure form.) OPTION #2: We may disclose the nonpublic personal information about you described above, primarily to provide you with the appraisal services you seek from us. 5. Who we… Continue Reading