Foreclosure and REO Appraisals in Sussex CountyProperties in foreclosure and houses that have reverted to the institution's possession create various appraisal problems.
When dealing with a property in foreclosure, you need to know market value versus a "quick disposition" assessment to evaluate your probable charge-off liability. We can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into account your pressing needs.
Owners of properties in foreclosure could be disinclined to allow an inspection of the property, thus presenting special challenges. If they have abandoned the home already, they might have ignored the care of the house for quite some time - or unfortunately, caused damage to the home.
If you're dealing with home that has already reverted to REO, you will interested in a quick disposition. But you may want to understand and review three values: as-is, as repaired, and "quick sale". These represent: