REO and Foreclosure Appraisal in Deschutes CountyProperties in foreclosure and homes that have returned to the financial institution's ownership bring forth special appraisal difficulties.
For a property in foreclosure, you need to recognize the difference between market value and a "quick disposition" price to know your probable charge-off liability. At GOLDEN APPRAISALS, LLC, we have the background in both providing snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that consider your time constraints.
Occupants of dwellings in foreclosure could be opposed to allowing an inspection of the property, thus presenting special challenges. Often the subjects have been intentionally damaged, unfortunately at the hands of the former residents themselves. Or, it's likely you'll find nobody has occupied the house for months or the home neglected for long periods of time.
For real estate that has already reverted to Real Estate Owned, you likewise will be going for an expeditious resolution. Regardless, you'll still want to consider three angles for figuring the value of the subject property: