If I intend purchase a home at a foreclosure auction sale, how do I get an appraisal of the home if the foreclosed party still occupies the home and will not allow entry prior to settlement (if then)? The appraisal is needed for mortgage qualification and settlement purposes, and the appraiser requires entry to the inside of the home to complete the appraisal.

You can't, that is the wonderful thing about foreclosure auction sales.


And it is why they sell so cheap, if you don't have a line of credit at the bank, or the cash in your checking account, normally you can't buy there.

This is why so many sell so cheap. And why most often the bank or mortgage company that has the lien, ends up with the property. And then they will list it with a real estate agent to sell as a foreclosure, but then want closer to market value.

It's an auction and your bid may not even be successful. You would have to pay the appraisal fee unless the lender waived the fee. Even if entry were granted and you somehow knew your bid would be successful, the appraisal would be appraised for you not the your lender. Appraisers sometimes, though it not the usual case, appraise properties for individuals, but its more usual that they are hired by the lender and the appraisal for you, I don't think would be accepted by your lender. Fees vary but generally run from $ 250. To about $400. For an average home with no unusual circumstances. Since you can't be sure your bid will be successful and you are in the market to buy, why not, if you have not already done so, approach a lender and get prequalfied for a loan as it's not necessary to have already chosen a particular home. You don't mention the method, terms of payment due if you are successful at the auction, but if you were perhaps the seller would accpet a loan commitment from the lender that preapproves you ?