Real Estate Owned Appraisal in Fulton CountyThere are specific appraisal problems for a property in foreclosure or one that has reverted to the institution's possession.When there is a house in foreclosure, you need to understand market value versus a "quick disposition" price to evaluate your potential charge-off liability. We can provide both snapshots of market value for our mortgage originating clients, in addition to "quick sale" forecasts that take into account your time constraints.
Occupants of property in foreclosure might be disinclined to allow an inspection of the home, thus presenting special challenges. Often the homes show signs of vandalism, often at the hands of the residents themselves. Or, it's likely you'll find the families have moved out or the home languishing in disrepair for long periods of time.
For a home that has already returned to bank owned, you probably will want to get rid of it quickly. But you might want to understand and review three values - "as-is", "as repaired", and "quick sale". These symbolize: |