Foreclosure & REO Appraisals

What this service involves

A foreclosure or REO appraisal is a market-value appraisal of a residential property in a distressed-ownership context, often reflecting the property's condition as-is. The deliverable depends on the agreed scope — a full interior appraisal, an exterior inspection, or a desktop analysis — and on whether an as-is or a repaired-condition value is needed.

This is distinct from a pre-foreclosure or short-sale appraisal, which values property before a foreclosure is completed or a short sale is negotiated. REO appraisals address property the lender already owns.

When someone may need it

Lenders and servicers need REO appraisals to price inventory for sale and to support accounting. Attorneys may need valuations in foreclosure litigation. Owners facing foreclosure may want to understand their property's value for their own decisions. Each context has a different intended use that shapes the assignment.

What the analysis considers

The appraisal considers the residential property's market value, often in as-is condition:

• Property characteristics: type, size, layout, and current condition, including any distress or deferred maintenance.
• Comparable sales: recent sales of similar homes, including distressed sales where relevant.
• Market conditions: current local supply, demand, and trends.
• Condition basis: as-is value, and repaired-condition value only if the scope calls for it.
• Intended use: disposition, accounting, or loss analysis at the relying party's request.

Information that may help

Helpful items include the property address, the ownership status (pre-foreclosure, REO), the intended use, and any known condition issues or repair estimates. Share lender-specific documents directly with your appraiser rather than through the general inquiry form.

How the assignment works

We confirm the scope, the condition basis (as-is or repaired), and the intended use, inspect the property when required, research comparable sales including distressed sales where relevant, complete the analysis, and deliver the report. REO assignments are often time-sensitive; share deadlines up front.