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The Appraisal Challenges for REO Properties Appraising REO propertiespresents special challenges for real estate experts. Unlike regular appraisals , REOs are often distressed properties sold “as is.” The property may also have legal issues, like title problems or unpaid liens, which can affect its value.
Not only do disclosure documents serve to inform buyers, but they can also protect the sellers from future legal action. It is the seller's chance to reveal anything that can negatively affect the value, usefulness or enjoyment of the property. The inspector checks all systems and components from the roof to the basement.
In July 2019, I spoke to the Collateral Risk Network, a group of chief appraisers, risk managers, management companies, lenders, appraisers, regulators, and legal experts, at the Collateral Matters event in Reston, Virginia. My talk focused on Property Inspections, which – to an outsider – might seem to be a straight-forward topic.
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