Foreclosure/REO appraisals

Homes in foreclosure and homes that have reverted to the lending institution's ownership have difficulties that are not present in other appraisal assignments.

Owners of properties in foreclosure, present special challenges. They may be unwilling to allow an inspection of the property. If they have abandoned the property already, they may have neglected care of the home for some time -- or worse, caused damage.

Properties that have already reverted to Real Estate Owned, will need a quick disposition. The special dynamics of a foreclosure appraisal needs to include; Fair market value, Quick disposition value, and repaired value. It is important to compare these three values: As-is, as repaired, and "quick sale."

• As Is value - without any work done
• Repaired value - with the work required to make the property marketable
• Quick sale value - to sell the property quickly

We understand the unique circumstances of Foreclosure and REO properties, as well as the information you'll need to make the best out of the current situation.