Foreclosure and REO Appraisal in Dane CountyHouses in foreclosure and houses that have reverted to the lender's ownership create particular appraisal problems.It's vital to recognize the meanings of "market value" and a "quick disposition" price to know your likely write-down liability when dealing with a house in foreclosure. At K R Campbell Appraisals, LLC, we have the training in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that factor in your time constraints.
Particular challenges might be present when working with owners of property in foreclosure. They might be unwilling to allow an inspection of the house. Sometimes the homes show signs of vandalism, often at the hands of the residents themselves. Or, it's common to discover the families have moved out or the home neglected for extended periods of time.
For real estate that has returned to bank owned, you probably will be interested in an expeditious resolution. However, you may want to understand and compare three values - "as-is", "as repaired", and "quick sale". These represent: |