FAQ: How will the appraiser gain access to a Maryland trustee sale property?

By Roy Kelley

Industry Observer with Retired

May 31, 2012 06:25 AM

How will the appraiser gain access to a Maryland trustee sale property?

In normal real estate transactions, appraisers make appointments to view the exterior and the interior of the property so their report can be submitted to the mortgage lender.

When the buyer is purchasing a trustee sale property, access is not available to the appraiser until after the buyer takes title and gains possession of the property.

Purchasers that plan to use mortgage financing to fund the purchase at settlement should be certain that their lender will not have a problem when the appraiser is not allowed on the property. Some investors will have difficulty in obtaining purchase money financing for trustee sale purchases.

Many real estate investors pay cash or use lines of credit to purchase trustee sale properties. If financing is needed, it is easier to obtain a mortgage loan after taking title and making any necessary improvements.

FAQ: Where are the lists of Maryland trustee sales?

FAQ: Do I need a pre-approval letter to bid on a trustee sale?

FAQ: Where are the advertisements for Maryland trustee sales?

FAQ: Are Maryland trustee sale properties available for viewing?

FAQ: Do I need a buyer agent to purchase at a Maryland trustee sale?

FAQ: Will they accept my personal check for a Maryland trustee sale deposit?

FAQ: Do Maryland trustee sales allow a home inspection contingency?

Rose, Kentlands, Spring Flowers IMG_9376 A

Photograph by Roy Kelley using a Canon PowerShot G11 camera.

Roy and Dolores Kelley Photographs

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Belinda Spillman

Aspen Lane Real Estate Colorful Colorado - Aurora, CO

Colorado Living!

Roy, Boy I didn't know that. Very good to know that the appraiser cannot have access until after closing. i think you are right baout most of the investors using cash for this type of purchase.

May 31, 2012 04:11 AM

Robert Bob Gilbert

Berkshire Hathaway HomeServices Anderson Properties - Katy, TX

Your Katy TX ( West of Houston) Real Estate Expert

Roy,

Another excellent blog and I did not know that the appraiser can nly gain entry after the buyer gains the title. I just never ran into this situation. I will suggest it as your blog provides ecellent information.

May 31, 2012 06:53 AM

Than Maynard

Coldwell Banker Heart of Oklahoma - Purcell, OK

Broker - Licensed to List & Sell - 405-990-8862

Pretty much a cash sale or a straight bank loan with a drive by appraisal.

May 31, 2012 07:34 AM

Roy Kelley

Gaithersburg, MD

Anita Clark

Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA

Realtor - Homes for Sale in Warner Robins GA

Roy: You are on a roll with this FAQ series. Another fine offering about trustee sales!

May 31, 2012 08:38 AM

David Burrows

Classic Realty - Fairfax, VA

No Pressure, Just Seriously Devoted to Real Estate

Roy, you are like a Real Estate Encyclopedia.... This is very interesting information that I didn't know.

May 31, 2012 08:48 AM

Tony & Darcy Cannon

Aubrey and Associates Realty - Layton, UT

The C Team

Roy, You have certainly pointed out an issue with bidding on Trustee sale properties, good stuff!

May 31, 2012 08:56 AM

Rob Thomas

Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN

Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Roy ....You are a wealth of knowledge! Thanks for making it so easy to understand!

May 31, 2012 10:20 AM

Kwee Huset

Kwee Huset Realty - Venice, FL

Venice Florida Homes For Sale

Roy, I did not know that and I have to check out the procedure for trustee sale in Sarasota county Florida.

May 31, 2012 11:47 AM

William Johnson

Retired - La Jolla, CA

Retired

Hi Roy, Your Trustee sale series has been very interesting and informative. A great topic to expand on.

May 31, 2012 12:38 PM

Roy Kelley

Retired - Gaithersburg, MD

Good morning to all. I always appreciate your comments. As the real estate market improves, more investors will be seeking opportunities at trustee sales which tend to be safer in rising markets.

Kentlands, Spring Flowers IMG_9405 B

May 31, 2012 07:49 PM

Good Saturday morning to all. Have a great day and an outstanding weekend.

Jan 28, 2017 07:28 AM

We have another beautiful day in Maryland. Dolores had to take her Mercedes to the shop to fix the air conditioning which will be much needed.

May 02, 2017 05:13 AM

Good Sunday evening to all. Have a most productive week.

Jun 18, 2017 05:38 PM

Jun 24, 2017 06:48 AM