Foreclosure and Real Estate Owned Appraisals in Douglas CountyHouses in foreclosure and houses that have returned to the financial institution's possession bring forth unique appraisal challenges.
It's key to recognize the meanings of "market value" and a "quick disposition" assessment to know your probable write-down liability when dealing with a house in foreclosure. We can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time line.
Owners of houses in foreclosureunfortunately can present specific challenges. For example, they could be disinclined to allow an inspection of the home. Often the houses have been ransacked, often at the hands of the former residents. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for extended periods of time.
If you're dealing with a house that has already reverted to Real Estate Owned, you will interested in a quick disposition. However, you might want to know and review three values: as-is, as repaired, and "quick sale". These symbolize: