REO and Foreclosure Appraisals in Pinellas CountyThere are special appraisal challenges regarding a property in foreclosure or one that has gone back to the lender's control.
For a house in foreclosure, you definitely need to know the difference between market value and a "quick disposition" to know your probable charge-off liability. Valuation Consulting Group has the experience in both furnishing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time line.
Particular challenges might be present when working with owners of properties in foreclosure. They might be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have not taken care of the home for some time - or even worse, damaged the house.
For real estate that has reverted to REO, you probably 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:
Got A Question ?
Do you have a question relating to real estate appraisals? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.