REO and Foreclosure Appraisal in Travis CountyHomes that have reverted to the bank's ownership and homes in foreclosure create unique appraisal difficulties.It's key to differentiate the meanings of "market value" and a "quick disposition" price to know what losses you stand to sustain when dealing with a house in foreclosure. We can provide both snapshots of market value for our mortgage servicing clients, as well as "quick sale" forecasts that understand your urgency.
Specific challenges can be present when working with owners of houses in foreclosure. They could be opposed to allowing an inspection of the property. If they have abandoned the home already, they could have ignored the care of the property for quite some time - or worse, damaged the house.
For a house that has returned to bank owned, you typically will want it off your hands as quickly as possible. In any case, you'll still want to consider three ways of determining the value of the real estate at hand: |