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Bankruptcy

In challenging economic times bankruptcy can be a person(s) only option. This can, however, give you a fresh start and help regain control of your financial future.

You need to show what your property is worth.

If you are planning on filing bankruptcy and own property you will need an appraisal to show the value to the courts. A property has value but may or may not have equity. Equity is what the bankruptcy courts are looking for. When looking to keep your primary residence (the home you live in) an appraisal is extremely important and necessary for this process. Also, remember to ask your attorney about homesteading your primary residence. This can be a critical step in keeping you home as well.

Pay close attention to timeliness.

It will be your responsibility to get the appraisal done and make sure it is delivered in a timely manner. You should know that getting an appraisal is a process that takes time. So, be mindful of all due dates and time lines to avoid problems in the process and order your appraisal quickly.

Be sure to get an experienced bankruptcy appraiser

We frequently provide real estate appraisals for the purpose of filing for bankruptcy and we understand the needs of all parties involved. A timely report that satisfies all the requirements in the bankruptcy process is critical.

Always make sure the appraiser is licensed in your state and is experienced and familiar with your appraisal needs.

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(508) 812-0819
info@CarrollAppraisals.com