Lone Star Appraisals is experienced when it comes to foreclosures in Corsicana, TexasThere are specific appraisal challenges when we're talking about a house in foreclosure or one that has gone back to the financial institution's control.
For a house in foreclosure, you should know the difference between the market and a "quick disposition" value to know your probable charge-off liability. Lone Star Appraisals has the experience in both presenting snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that take into consideration your urgency.
Occupants of property in foreclosure may be disinclined to allow an inspection of the property, thus presenting unique challenges. If they deserted the house already, they may have overlooked the care of the property for quite some time - or even worse, ransacked the home.
For real estate that has reverted to bank owned, you probably will want to get rid of it quickly. In any case, you'll still want to consider three angles for determining the value of the subject property: