graindart
Junior Member
- Joined
- Jan 20, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Montana
I've been reading a bit about REO appraisals, so I have a question......a client orders an REO appraisal and wants it done on a 2055......they ask that you base value on normal marketing time.......what value and / or date am I suppose to be finding?
A normal 2055 appraisal would be done for Market Value on the date of the inspection. So for an REO, do I still state that and just attach an REO addendum stating what my educated guess on what it will sell for in a few months if put on the market now?
Hope my question's not too confusing, I'm kind of confused, so any help would be greatly appreciated.
A normal 2055 appraisal would be done for Market Value on the date of the inspection. So for an REO, do I still state that and just attach an REO addendum stating what my educated guess on what it will sell for in a few months if put on the market now?
Hope my question's not too confusing, I'm kind of confused, so any help would be greatly appreciated.