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When foreclosed homes are sold they are often sold at significantly reduced prices. Any time homes in an area are sold for prices lower than previous sales in that same area, the property values of all similar homes in that market area decline.
Many people mistakenly believe that if they sell their home under normal circumstances that foreclosure sales do not affect their values. Home sales are much like any other consumer transaction; items selling for lower prices in a market reduce the value of similar items regardless of sale reason.
Distressed or damaged homes, while not similar in condition to maintained homes, will still drag down market values overall even though a maintained home will still sell for a slightly higher amount.
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∙ 13y ago
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What is disposition value?
This is the value if the property were sold now under as is conditions - like in a sheriff's sale or foreclosure.
Is property in foreclosure still considered property of estate?
Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.
What is the meaning of zonal value of real property?
Zonal value of real property is a value placed on real estate based on where it is located. If a house, for example, is located in a commercial zone, the value of the property may be lower.
In real estate what is the principle of contribution?
In real estate the principle of contribution is that the value of a component of property depends upon its contribution to the value of the whole property. The cost of an improvement does not necessarily equal the value the component adds to the property.
What does ppr mean in real estste?
PPR in real estate means Preliminary Property Report. This is usually a report on the property before it is filed into foreclosure . Sometimes it is just a drive by viewing or an internal inspection. Realtors usually get this report before a property preservation goes in to restore or repair and the property preservation company can do this PPR for the realtor if requested.
What is disposition value?
This is the value if the property were sold now under as is conditions - like in a sheriff's sale or foreclosure.
Is the property at 119 amherst lane in Sebastian Florida in foreclosure?
Is this property in pre-foreclosure or just foreclosure May I please get all the details on this property
If our house goes into foreclosure can the banks still get their money from you ?
foreclosure is a conditon where a lender (the bank) acquires title to and uses the value of the property to offset the outstanding balance of the loan. If your property goes into foreclosure you will LOSE ownership of that property but will also no longer owe the unpaid balance of the loan. This is called 'defaulting' on your loan.
What are the consequences of friendly foreclosure of an investment property?
Foreclosure results in the buyer losing the property.
What is a pre foreclosure?
A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.
What will happen if you stop making your mortgage payments?
The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.
How can a person or group contest a foreclosure of their property?
A person or a group can contest the foreclosure of a piece of property by contacting an attorney. This is the best way to get information about property.
How Foreclosure works?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
What is the difference between preclosure and foreclosure?
Be aware that a pre-foreclosure property is not necessarily for sale. The pre-foreclosure stage is the period between the time in which a Notice of Default (in non-judicial foreclosure) or lis pendens (in judicial foreclosure) has been issued to the homeowner and after the property is sold at a foreclosure auction.
Can a property with easement can be foreclosure?
The easement does not affect the mortgage. Therefore, the foreclosure can continue.
Who is responsible for a property still in the foreclosure process once you vacate the premises?
You are responsible for the property during the foreclosure process up until the property is sold or auctioned.
Is property in foreclosure still considered property of estate?
Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.Yes, until the foreclosure has been completed and the lender has taken possession of the property.
