Real Estate Owned and Foreclosure Appraisals in Stanislaus CountyProperties that have returned to the bank's ownership and properties in foreclosure bring forth various appraisal challenges.
For a house in foreclosure, you should recognize the difference between market and a "quick disposition" value to know your potential charge-off liability. Verschelden Appraisals has the experience in both supplying snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your urgency.
Particular challenges can be present when working with owners of properties in foreclosure. They could be uncooperative to allowing an inspection of the property. They may have deserted the property already and/or ignored the care of the house for some time - or worse, ransacked the property.
If you're dealing with home that has reverted to Real Estate Owned, you will interested in a quick disposition. But you might want to understand and review three values: as-is, as repaired, and "quick sale". These represent: