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, such as Townhouse Appraisers. Finding a well-qualified appraiser will help make the entire valuation portion of the bankruptcy run smoothly.
A 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.
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. 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.
Appraisers usually estimate asset collateral values of secured creditors and debtor-in-possession (DIP) financing, help identify and value sale/leasebacks, spin-offs, licensing, and other reorganization opportunities. Appraisers are often involved in structuring and valuing restructured debt and equity instruments, as well as assessing the fair market value of the property.
Our team of certified and experienced appraisers at Townhouse Appraisers understand the complexities involved in assessing the value all residential property types under these difficult circumstances. We have the experience and qualifications to meet all of your appraisal needs. Contact us for bankruptcy appraisal services that you can count on. We look forward to serving you.