Foreclosure and Real Estate Owned Appraisal in Clatsop CountyThere are special appraisal problems for a property in foreclosure or one that has gone back to the lender's control.
It's vital to differentiate the meanings of "market value" and a "quick disposition" price to analyze your likely charge-off liability when dealing with a property in foreclosure. At N.W. Appraisal Network, we have the experience in both producing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that consider your pressing needs.
Owners of houses in foreclosureunfortunately can present particular challenges. They may be opposed to allowing an inspection of the property. They may have abandoned the property already and/or neglected care of the property for some time - or in some cases ransacked the house.
For a home that has already changed to Real Estate Owned, you typically will want to get rid of it quickly. But you may want to know about and analyze three values - "as-is", "as repaired", and "quick sale". These represent: