Real Estate Owned and Foreclosure Appraisals in King CountyThere are various appraisal problems for a home in foreclosure or one that has returned to the financial institution's ownership.
For a home in foreclosure, you definitely need to understand the gap between market and a "quick disposition" to know your potential charge-off liability. Cascade Appraisal, LLC has the training in both providing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your pressing needs.
Owners of property in foreclosure, naturally, can present particular challenges. For example, they may be unwilling to allow us access to the property. They may have deserted the property already and/or neglected care of the property for quite some time - or unfortunately, intentionally harmed the property.
For real estate that has already reverted to bank owned, you typically will want to get rid of it quickly. In any case, you'll still want to consider three ways of determining the value of the real estate at hand: