Is it possible to gain access to a property in foreclosure for the purpose of a mortgage appraisal?

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Is it possible to gain access to a property in foreclosure for the purpose of a mortgage appraisal?

The property in question I won by upset bid of a trustee sale at the courthouse. I placed a 5% deposit, planning to fund it with a pre-approved mortgage – The trustee will not grant access to the property for appraisal. What can I do to gain access for the appraiser? Is a court action necessary?

Asked on July 15, 2011 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you bought the property at a trustee's sale, then the trustee is obligated to give you a trustee's deed upon payment of the winning bid. Once title is on your name, you have free access to it for appraisal purposes.

It seems to me that you are not yet on title in that most States require a cashier's check for the full amount of the bid to be paid in order for title to transfer to the winning bidder by the trustee.

If the trustee will not grant access to the property for a walk through of the interior of the home, perhaps if the property is still occupied you can get permission from the occupants for access with the appraiser you need for appraisal purposes.

Another option is to see if the appraiser can do a "drive by" appraisal by just going to the property, looking inside the windows and viewing its exterior and make an appraisal based upon recently closed comparable parcels in the neighborhood.

Quick answer is that if the trustee refuses access to the home's interior when you are not the owner of record for appraisal purposes, then access is not possible.


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