Often times when going through a Bankruptcy, an attorney will recommend their clients contact a local real estate appraiser to perform an appraisal on the home to accurately assess its current fair market value.
A home appraisal provides you with an accurate assessment of your home’s fair market value. It is extremely important to have an appraisal done by an experienced certified appraiser as significant discrepancies in the value of your home can create potential problems in bankruptcy. If the value is listed too 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.
In addition, an obvious ‘low ball’ value will call your honesty, truthfulness and credibility into question in future proceedings with the Bankruptcy judge, trustee, and opposing counsel. 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.
For these reasons, bankruptcy professionals quite often need to hire, work with and rely on experienced certified real estate appraisers. Our team at the ‘Rowe Appraisal Group’ understands the complexities involved in assessing the value of a property under these difficult circumstances and work hard to provide you with the best possible experience. We excel in our professionalism and turn around time in these requests.
Give us a call today with any questions you might have and also check out our ‘Praise’ page and see what others are saying about Paul Rowe and the Rowe Appraisal Group.’