A bankruptcy appraisal evaluates and establishes to a court whether a debtor is able to pay back debts. It is a detailed document required by the court in order to determine whether or not your bankruptcy filing is considered meritorious. Your home, likely your largest asset, is evaluated along with other property to give the correct picture of your financial status at the time of declaration. Luxury Home Appraiser’s bankruptcy appraisal reports are legal documents and are accepted in court because they are provided by our state-certified appraisers.
It is in your best interest to get a property valuation done before you decide to file Chapter 7 or go into debt repayment plan under Chapter 13. Having a current, accurate home valuation before you begin litigation will give you some advance insight into your chances of being awarded a debt discharge approval. If the equity in your home is high enough to trigger a sale by your trustee, you can save yourself disappointment by rethinking you plan prior to filing a bankruptcy suit.
Filing for Chapter 7 bankruptcy is considered better in most cases, as you can usually keep your property and portion of all outstanding debts, such as a second mortgage, will be discharged. However, you won’t know if you qualify for Chapter 7 until you obtain a bankruptcy appraisal from the state-certified appraisers at Luxury Home Appraiser. Only after the appraiser carries out a full financial and home valuation will he be in a position to suggest which form of bankruptcy you should consider.
It is critical to work with a knowledgeable bankruptcy appraisal expert from Luxury Home Appraisal. If the judge feels that the litigation appraisal lacks proper analysis and is not defensible, then you could find yourself having to pay back your debt under the Chapter 13 bankruptcy plan. Together with your attorney, Luxury Home Appraiser can advise you of the best course of action based on a verifiable analysis of your home’s value.
No matter your reason for filing bankruptcy, your choice of appraiser is extremely important. The team of appraisers at Luxury Home Appraiser are all state-certified and specialize in the creation of data-driven bankruptcy appraisal reports. We will consult with your attorney as needed and provide reliable expert testimony on your behalf. When you work with Million Dollar Home Appraiser, you will receive a detailed, custom written report that your bankruptcy appraiser is prepared to defend in court on your behalf.
You cannot afford to gamble on anything less than expert service. Let the team at Luxury Home Appraiser put our years of industry experience and market knowledge to work for you and ensure an accurate, unbiased value of your home.