Foreclosure and REO Appraisals

For a property in foreclosure, you definitely need to recognize the difference between the market value and a "quick disposition" value to know your probable charge-off liability. CJP Appraisal Services has the background in both supplying snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your urgency.

	You need a company who has the experience to deal with the specific dynamics of a foreclosure appraisal. For a company you can rely on, contact CJP Appraisal Services.

Occupants of homes in foreclosure may be disinclined to allow an inspection of the property, thus presenting particular challenges. Often the homes have been vandalized, often at the hands of the residents. Or, it's common to discover a house at a minimum abandoned or the home languishing in disrepair for long periods of time.

For a house that has reverted to Real Estate Owned, you likewise will be seeking an expeditious disposition. Regardless, you'll still want to consider three ways of determining the value of the subject property:

• As Repaired. Possible market value with the repairs needed to make the house marketable at full market value - consistent with other houses in the neighborhood
• As-is. The market value of the property without any repairs done to it
• Quick sale. Somewhere in the middle, with minor investment in repairs - to sell the property quickly, seemingly to someone who'd prefer to finish the job themselves