How to search for appraised values on REO properties during pre-foreclosure process

One technique we've learnt buying REOs the past couple of years is how to find appraised value of properties during pre-foreclosure process. Most counties or court houses record all activities during pre-foreclosure process, and one of them is the appraised value (from Licensed Appraisal) of a property lenders have to order. Next time you make an offer on a REO, search online (if available in the court house where the property is located) information of the person who was sued by the lender during pre-foreclosure. Once you match the owner during preforeclosure and lending institution, you have the property pre-foreclosure details. The lender likely had to order an appraisal on the property at the as-is condition. This will give you an idea of the as-is value at the time of the appraisal. You have to becareful that sometimes these appraisals may have taken place a year ago, so you need to take into account the market variation during this timeframe. To get the name of the person who owned this property during pre-foreclosure, you can call the courthouse or ask your realtor as he should have access to court records.