REO Appraisals in Sebastian CountyProperties in foreclosure and houses that have gone back to the lender's possession create specific appraisal problems.
You should understand the meanings of "market value" and a "quick disposition" assessment to know what losses you could realize when dealing with a house in foreclosure. At Ken Colley & Associates Inc., we have the background in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that consider your urgency.
Owners of homes in foreclosure, of course, can present unique challenges: They could be unwilling to allow an inspection of the home. Sometimes the properties have been intentionally damaged, often at the hands of the former residents themselves. Or, it's common to discover a house at least abandoned or the home neglected for extended periods of time.
For a home that has already gone back to bank owned, you likewise will be interested in a quick disposition. In any case, you'll still want to consider three angles for looking at the value of the subject property: