Foreclosure Appraisal in Douglas CountyProperties in foreclosure and houses that have returned to the financial institution's possession create special appraisal difficulties.
You should know the meanings of "market value" and a "quick disposition" assessment to evaluate what losses you could realize when dealing with a house in foreclosure. At Appraisal Associates of Douglas County, we have the experience in both producing snapshots of market value for our mortgage lending and servicing clients, in addition to "quick sale" forecasts that consider your urgency.
Owners of property in foreclosure, of course, can present special challenges. For example, they might be disinclined to allow the appraiser access to the home. If they have abandoned the house already, they may have not taken care of the house for some time - or worse, damaged the property.
For a property that has already gone back to Real Estate Owned, you typically will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for looking at the value of the real estate at hand: