Foreclosure and Real Estate Owned Appraisal in New Hanover CountyThere are specific appraisal challenges involved in a home in foreclosure or one that has reverted to the lender's ownership.
You need to differentiate the meanings of "market value" and a "quick disposition" value to evaluate your likely write-down liability when dealing with a property in foreclosure. We can provide both snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that respect your time constraints.
Specific challenges may be present when working with owners of homes in foreclosure. They could be opposed to allowing an inspection of the home. If they moved out of the house already, they might have ignored the care of the house for a long time - or unfortunately, ransacked the home.
For a property that has reverted to Real Estate Owned, you most likely will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for determining the value of the real estate at hand: