Real Estate Owned Appraisal in Maricopa CountyThere are various appraisal difficulties when it comes to a home in foreclosure or one that has returned to the bank's control.
When there is a property in foreclosure, you should differentiate market value versus a "quick disposition" price to evaluate your possible charge-off liability. We can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your pressing needs.
Owners of dwellings in foreclosure could be opposed to allowing an inspection of the property, thus presenting unique challenges. Sometimes the homes have been ransacked, unfortunately by the former residents themselves. Or, it's likely you'll find the previous owners have moved out or the home languishing in disrepair for long periods of time.
If you're dealing with a house that has returned to bank owned, you will interested in an expeditious disposition. However, you might want to know and analyze three values: as-is, as repaired, and "quick sale". These symbolize: