Foreclosure and Real Estate Owned Appraisals in Clark CountyHomes that have gone back to the financial institution's holding and homes in foreclosure bring forth various appraisal difficulties.
For a home in foreclosure, you would be wise to understand the difference between market value and a "quick disposition" to know your potential charge-off liability. At dda, we have the training in both furnishing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that consider your time constraints.
Particular challenges can be present when dealing with owners of houses in foreclosure. They might be uncooperative to allowing an inspection of the home. They might have abandoned the property already and/or ignored the care of the property for some time - or gone as far as vandalized the house.
For a house that has returned to bank owned, you likewise will be interested in a speedy resolution. In any case, you'll still want to consider three angles for looking at the value of the real estate at hand: