Foreclosure and Real Estate Owned Appraisals in San Diego CountyThere are specific appraisal challenges when we're talking about a property in foreclosure or one that has gone back to the financial institution's possession.
When dealing with a home in foreclosure, it's important to 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 originating clients, as well as "quick sale" forecasts that take into account your pressing needs.
Owners of houses in foreclosure, of course, can present specific challenges: For example, they might be opposed to allowing an inspection of the property. If they abandoned the home already, they may have overlooked the care of the house for a long time - or worse, damaged the property.
You will be interested in a quick disposition if the home has returned to Real Estate Owned. So you might want to know and compare three values: "as-is", "as repaired", and "quick sale". These represent: