Real Estate Owned Appraisal in Ulster CountyHomes that have gone back to the institution's possession and homes in foreclosure create unique appraisal difficulties.
When there is a house in foreclosure, it's important to differentiate market value versus a "quick disposition" assessment to evaluate your potential charge-off liability. The professionals at Tortorella Appraisals, Inc. can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your time line.
Owners of properties in foreclosure could be opposed to allowing an inspection of the house, thus presenting unique challenges. If they abandoned the property already, they may have ignored the care of the property for some time - or unfortunately, ransacked the home.
You'll be interested in an expedited disposition if the house has reverted to Real Estate Owned. So you may want to know and compare three values: "as-is", "as repaired", and "quick sale". These represent: