REO and Foreclosure Appraisal in Palm Beach CountyHomes that have returned to the bank's holding and properties in foreclosure present specific appraisal challenges.
When dealing with a home in foreclosure, it's important to recognize market value versus a "quick disposition" assessment to analyze your probable charge-off liability. At Jensen Appraisals Inc, we have the knowledge in both providing snapshots of market value for our mortgage clients, in addition to "quick sale" forecasts that consider your time line.
Owners of properties in foreclosure, naturally, can present unique challenges. They might be disinclined to allow us access to the home. They may have deserted the house already and/or neglected care of the house for quite some time - or unfortunately, damaged the property.
For real estate that has changed to REO, you probably will be seeking a quick disposition. In any case, you'll still want to consider three angles for determining the value of the subject property: