Real Estate Owned Appraisal in Martin CountyThere are unique appraisal difficulties regarding a house in foreclosure or one that has returned to the bank's holding.
You need to differentiate the meanings of "market value" and a "quick disposition" value to analyze your probable write-down liability when dealing with a house in foreclosure. Action Appraisal, Inc has the experience in both presenting 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 foreclosureunfortunately can present special challenges. They might be opposed to allowing an inspection of the house. Sometimes the homes have been vandalized, unfortunately at the hands of the former residents themselves. Or, it's likely you'll find the residents have moved out or the home languishing in disrepair for long periods of time.
For real estate that has gone back to Real Estate Owned, you probably will be seeking a fast disposition. In any case, you'll still want to consider three angles for determining the value of the real estate at hand: