Harold Canum's-Appraisal Resource is the company you should trust when you need appraisals for foreclosures in San Diego/Temecula, CaliforniaThere are various appraisal problems when it comes to a house in foreclosure or one that has returned to the bank's ownership.
When dealing with a property in foreclosure, you should ascertain market value versus a "quick disposition" price to analyze your potential charge-off liability. The professionals at Harold Canum's-Appraisal Resource can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that respect your urgency.
Owners of properties in foreclosureunfortunately can present unique challenges. For example, they could be disinclined to allow an inspection of the home. Sometimes the homes show signs of vandalism, unfortunately by the former residents. Or, it's likely you'll discover the residents have moved out or the home neglected for long periods of time.
For real estate that has already returned to Real Estate Owned, you probably will want to get rid of it quickly. In any case, you'll still want to consider three angles for figuring the value of the real estate at hand: