Foreclosure Appraisals in Monmouth CountyHomes in foreclosure and houses that have reverted to the financial institution's control create particular appraisal problems.
It's vital to know the meanings of "market value" and a "quick disposition" assessment to know what losses you could realize when dealing with a property in foreclosure. Allstate Property Appraisal Services has the background in both furnishing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time line.
Special challenges might be present when dealing with owners of properties in foreclosure. They could be uncooperative to allowing an inspection of the home. Sometimes the homes have been vandalized, often at the hands of the former residents themselves. Or, it's likely you'll discover nobody has lived in house for months or the home neglected for extended periods of time.
If you're dealing with property that has changed to REO, you will interested in a quick disposition. However, you might want to understand and review three values: as-is, as repaired, and "quick sale". These correspond to: