The bankruptcy appraisal is completed for purposes as laid out by the court. It sets the market value of your property in a bankruptcy proceeding. A credible bankruptcy appraisal report provides the fair market value, market analysis and all other necessary property information for your particular residential property.
When going through the bankruptcy process an attorney will often have a real estate appraisal completed in order to accurately assess the property’s fair market value. It is important to obtain the services of a qualified real estate appraiser who has the proper certification and experience within your market area. Finding a well-qualified appraiser will help make the entire valuation portion of the bankruptcy go smoothly.
Significant discrepancies in the value of your home can create potential problems in bankruptcy. If the value is listed to low the client runs the risk of a trustee objecting to their scheduled valuation and potentially asking the court for permission to seize your home. If a value is listed too high, a client may miss out on the availability of a Chapter 7 and/or end of paying back more than necessary in a Chapter 13.
Real estate appraisers therefore perform an integral function in the bankruptcy process. Appraisers usually estimate asset collateral values of secured creditors and debtor-in-possession (DIP) financings; help to identify and value sale/leasebacks, spin-offs, licensing and other re-organization opportunities; and are often involved in structuring and valuing restructured debt and equity instruments as well as assessing and opinionating on the fairness of proposed re-organization plans.
Our team of certified and experienced appraisers at California Home Appraisals Inc. understands the complexities involved in assessing the value all residential property types under these difficult circumstances and we always work hard to provide you the best possible experience.
Please contact us for bankruptcy appraisal services that you can count on. We are here to answer your bankruptcy needs and we look forward to serving you.
