Chesapeake Real Estate Appraisals, Inc is experienced when it comes to bank owned properties in Baltimore CountyProperties in foreclosure and houses that have returned to the lender's control bring forth special appraisal problems.
You should differentiate the meanings of "market value" and a "quick disposition" price to analyze what losses you might have to endure when dealing with a home in foreclosure. At Chesapeake Real Estate Appraisals, Inc, we have the training in both producing snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that consider your pressing needs.
Owners of homes in foreclosure may be disinclined to allow an inspection of the house, thus presenting particular challenges. Often the homes have been vandalized, often at the hands of the former residents. Or, it's likely you'll find a house at least abandoned or the home neglected for long periods of time.
For a home that has already gone back to REO, you probably will want to get rid of it quickly. In any case, you'll still want to consider three angles for figuring the value of the subject property: