Foreclosure Appraisals in Harrison CountyHomes in foreclosure and properties that have reverted to the bank's holding present various appraisal challenges.
For a house in foreclosure, you definitely need to understand the gap between the market price and a "quick disposition" value to know your possible charge-off liability. We can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time constraints.
Specific challenges can be present when working with owners of property in foreclosure. They might be disinclined to allow an inspection of the property. If they deserted the home already, they could have ignored the care of the property for awhile - or worse, damaged the home.
If you're dealing with a house that has returned to Real Estate Owned, you will interested in a speedy disposition. But you may want to understand and compare three values: as-is, as repaired, and "quick sale". These represent: