Foreclosure and Real Estate Owned Appraisals in Jackson CountyHouses that have gone back to the financial institution's possession and properties in foreclosure present various appraisal difficulties.
You should differentiate the meanings of "market value" and a "quick disposition" assessment to know what losses you might have to endure when dealing with a house in foreclosure. At Steven M Shelamer, we have the background in both providing snapshots of market value for our mortgage clients, as well as "quick sale" forecasts that understand your pressing needs.
Owners of houses in foreclosure, naturally, can present specific challenges: For example, they could be unwilling to allow the appraiser access to the home. They may have left the property already and/or neglected care of the house for quite awhile - or even worse, vandalized the house.
For a house that has reverted to Real Estate Owned, you probably will be going for an expedited disposition. In any case, you'll still want to consider three ways of figuring the value of the real estate at hand: