DMJ Appraisals is the company you should trust when it comes to bank owned properties in Murrieta, CaliforniaHouses that have gone back to the financial institution's ownership and homes in foreclosure present specific appraisal problems.
For a home in foreclosure, you should know the difference between market price and a "quick disposition" assessment to know your possible charge-off liability. The professionals at DMJ Appraisals can provide both snapshots of market value for our mortgage lending clients, as well as "quick sale" forecasts that respect your urgency.
Occupants of dwellings in foreclosure could be uncooperative to allowing an inspection of the house, thus presenting special challenges. They could have deserted the house already and/or ignored the care of the house for quite some time - or gone as far as intentionally harmed the property.
For real estate that has changed to REO, you most likely will be interested in a speedy disposition. Regardless, you'll still want to consider three ways of figuring the value of the subject property: