Foreclosure and Real Estate Owned Appraisal in Iron CountyProperties that have gone back to the institution's holding and properties in foreclosure create unique appraisal difficulties.
You should recognize the meanings of "market value" and a "quick disposition" assessment to evaluate your probable charge-off liability when dealing with a house in foreclosure. The professionals at Appraising UTAH LLC can provide both snapshots of market value for our mortgage servicing clients, in addition to "quick sale" forecasts that take into account your time line.
Owners of property in foreclosure, naturally, can present special challenges. They might be disinclined to allow us access to the home. If they deserted the property already, they may have neglected care of the home for quite awhile - or worse, ransacked the house.
You'll be interested in a fast disposition if the property has already returned to REO. So you may want to understand and compare three values: "as-is", "as repaired", and "quick sale". These correspond to:
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