The appraisers for foreclosure auction property are appointed by the court. The appraisals are not reliable and I tell my clients not to rely upon them.
A buyer in a foreclosure auction needs to make their own assessments, whether by their own appraiser or by their own business understanding of the value of the property. Very often these appraisers don’t get into the property itself. It is done for court purposes and not something that can be relied upon by the buyer.
That is not an appraisal that you’d be able to take to the bank and get a loan.
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