Foreclosure Appraisal in Lee, Collier, Miami-Dade, and Broward CountiesHomes that have gone back to the financial institution's ownership and houses in foreclosure present special appraisal difficulties.
It's important to ascertain the meanings of "market value" and a "quick disposition" assessment to evaluate your likely write-down liability when dealing with a house in foreclosure. At Residential Real Estate Appraisers, Inc, we have the experience in both supplying snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that consider your urgency.
Special challenges might be present when working with owners of homes in foreclosure. They might be unwilling to allow an inspection of the property. They could have left the home already and/or ignored the care of the property for some time - or gone as far as vandalized the home.
You will be interested in a speedy disposition if the home has already changed to REO. So you may want to know and review three values: "as-is", "as repaired", and "quick sale". These represent:
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