Appraising Pre-Foreclosures, Short Sales & Reo's

Course overview

This is an intermediate level course for residential appraisers and real estate market participants to gain mastery of the concepts required to accurately appraise pre-foreclosure, short sale, and REO properties. This course will clarify the differences in the status of residential properties that are encountered in appraising these distressed properties and examine the roles and responsibilities of the real estate appraiser in appraising these types of properties. The nuances between residential foreclosure assignments and traditional mortgage assignments will be explored, from property inspection to reporting requirements. The types and definitions of value will be covered, along with assignment conditions and client expectations. Examples will be provided for students to understand the role of entrepreneurial incentive, entrepreneurial profit, and costs to repair and to cure. Case studies will be utilized to cement the concepts in the mind of the student.