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The unique circumstances surrounding REO properties require specialized handling during the appraisal process, considering factors like extensive repairs, market trends, and quick-sale pricing strategies. The Appraisal Challenges for REO PropertiesAppraising REO properties presents special challenges for real estate experts.
Previous improvements, renovations or upgrades done by sellers are typical disclosures, as well as whether work was done with or without permits. The buyer should always do a full property inspection, before moving forward with the purchase. The inspector checks all systems and components from the roof to the basement.
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