Real Estate Owned and Foreclosure Appraisals in Houston CountyHomes that have gone back to the bank's holding and homes in foreclosure create special appraisal difficulties.
For a home in foreclosure, you definitely need to understand the difference between market value and a "quick disposition" value to know your possible charge-off liability. We can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that understand your time constraints.
Occupants of homes in foreclosure may be disinclined to allow an inspection of the property, thus presenting unique challenges. They may have moved out of the home already and/or ignored the care of the home for a long time - or even worse, intentionally harmed the property.
For a home that has already changed to bank owned, you most likely will want to get rid of it quickly. Regardless, you'll still want to consider three ways of figuring the value of the subject property: