REO and Foreclosure Appraisal in Monroe CountyHomes that have gone back to the institution's ownership and homes in foreclosure present unique appraisal problems.
It's key to recognize the meanings of "market value" and a "quick disposition" price to know your possible write-down liability when dealing with a house in foreclosure. We can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line.
Owners of houses in foreclosureunfortunately can present particular challenges. They could be disinclined to allow an inspection of the house. If they left the property already, they might have ignored the care of the property for quite some time - or unfortunately, caused damage to the house.
If you're dealing with a house that has changed to REO, you will interested in a speedy disposition. But you may want to understand and review three values: as-is, as repaired, and "quick sale". These correspond to: