The foreclosure process involves the act of a bank or financing party repossessing the collateral held against a loan in the event of default on the loan agreement. In these situations, the foreclosing part must, by law, offer the property for sell on the steps of the relevant court house on the first Tuesday of the month after adequate advertisement for the Fair Market Value of the property. This act allows the creditor to set the value of the property and the basis for any future judgment on the difference in the value and the amount owed. This process is referred to as Confirmation of Sale. If the creditor does not offer the property for the fair market value any action to collect the difference can be void. It is important that property owners and creditors engage a qualified appraiser to determine the value in these situations to avoid additional court costs or even loss of the ability to claim any deficiencies. The appraisers at Adamson Real Estate Advisors, Inc. have been qualified as an expert witness in 13 counties in Georgia in these types of cases.