Foreclosure and REO Appraisal in Cumberland CountyProperties in foreclosure and homes that have gone back to the institution's ownership present special appraisal challenges.
It's vital to ascertain the meanings of "market value" and a "quick disposition" price to evaluate what losses you might realize when dealing with a home in foreclosure. Loveland Properties and Appraisal has the knowledge in both presenting snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into consideration your pressing needs.
Owners of houses in foreclosure can present specific challenges: They could be disinclined to allow an inspection of the house. Often the homes have been ransacked, often at the hands of the former residents themselves. Or, it's common to discover nobody has occupied the house for months or the home languishing in disrepair for long periods of time.
For a home that has returned to bank owned, you likewise will be interested in a quick resolution. Regardless, you'll still want to consider three angles for determining the value of the asset: