REO Appraisals in Santa Rosa CountyThere are various appraisal challenges for a property in foreclosure or one that has gone back to the lender's possession.
For a home in foreclosure, you should recognize the difference between the market price and a "quick disposition" price to know your probable charge-off liability. At G. Daniel Green & Associates, Inc., we have the experience in both supplying snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that factor in your urgency.
Owners of property in foreclosureunfortunately can present unique challenges. They might be opposed to allowing an inspection of the house. They could have left the home already and/or neglected care of the home for some time - or in some cases intentionally harmed the home.
For real estate that has already gone back to Real Estate Owned, you probably will be seeking an expeditious resolution. Regardless, you'll still want to consider three ways of determining the value of the real estate at hand: