Real Estate Owned Appraisal in Beaufort CountyReal Estate in foreclosure and houses that have reverted to the lender's holding present specific appraisal problems.
You should differentiate the meanings of "market value" and a "quick disposition" value to know what losses you might realize when dealing with a property in foreclosure. Palmetto Appraisals of the Low Country has the knowledge in both producing snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your time line.
Specific challenges might be present when working with owners of properties in foreclosure. They may be disinclined to allow an inspection of the property. If they have abandoned the house already, they could have not taken care of the house for quite awhile - or unfortunately, caused damage to the home.
For a property that has already returned to Real Estate Owned, you most likely will be seeking an expeditious resolution. But you might want to know about and compare the concepts of "as-is", "as repaired", and "quick sale" values. These represent: