Real Estate Owned and Foreclosure Appraisal in Beaufort CountyHouses that have returned to the bank's control and houses in foreclosure bring forth particular appraisal problems.
For a house in foreclosure, you should recognize the gap between the market and a "quick disposition" price to know your likely charge-off liability. Coastal Property Appraisals has the training in both furnishing snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that understand your time line.
Owners of property in foreclosureunfortunately can present special challenges: They could be unwilling to allow the appraiser access to the home. They might have deserted the home already and/or ignored the care of the property for quite some time - or even worse, damaged the home.
For real estate that has already returned to REO, you most likely will be seeking a quick resolution. In any case, you'll still want to consider three ways of determining the value of the asset: