REO Appraisal in Lynchburg City CountyProperties in foreclosure and houses that have reverted to the financial institution's ownership bring forth specific appraisal challenges.For a property in foreclosure, you need to recognize the difference between market value and a "quick disposition" assessment to know your possible charge-off liability. We can provide both snapshots of market value for our mortgage originating clients, as well as "quick sale" forecasts that take into consideration your urgency.
Occupants of properties in foreclosure could be unwilling to allow an inspection of the home, thus presenting particular challenges. If they have abandoned the property already, they might have neglected care of the property for a long time - or worse, damaged the property. For real estate that has already returned to Real Estate Owned, you likewise will be interested in a fast disposition. Regardless, you'll still want to consider three ways of looking at the value of the real estate at hand:
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