Foreclosure Appraisal in Placer CountyThere are special appraisal problems when we're talking about a property in foreclosure or one that has reverted to the bank's holding.
When there is a property in foreclosure, it's important to know market value versus a "quick disposition" value to analyze your potential charge-off liability. Peterson Appraisal Group has the experience in both providing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your pressing needs.
Occupants of houses in foreclosure could be uncooperative to allowing an inspection of the property, thus presenting specific challenges. They may have deserted the home already and/or ignored the care of the home for some time - or worse, intentionally harmed the home.
For real estate that has reverted to REO, you most likely will want to get rid of it quickly. Regardless, you'll still want to consider three ways of figuring the value of the subject property: