A bankruptcy evaluation is a comprehensive economic image of your revenue, financial obligations and monetary commitments. It is used to establish the ability of an individual who is declaring, or thinking of filing, for insolvency to pay the debts he owes. The court requires a bankruptcy evaluation under the federal insolvency statutes. A personal bankruptcy judge will thoroughly review the property appraisal in determining whether to release the debts of the individual that submits for personal bankruptcy under Chapter 7, or approve a debt repayment plan under Chapter 13.
Personal bankruptcy specialists depend on experienced real estate appraisers. A home appraisal provides you with an exact assessment of your home’s reasonable market value. Considerable inconsistencies in the worth of your house can produce prospective issues in personal bankruptcy. If the value is noted too low, the customer runs the risk of a trustee challenging their arranged evaluation and potentially asking the court for permission to seize your residence.
Realtor appraisers execute an indispensable feature in the insolvency process. Appraisers usually approximate property security values of protected lenders as well as debtor-in-possession (DIP) financing; help to recognize and value sale/leasebacks, spin-offs, licensing, and other re-organization opportunities; and also are commonly associated with structuring and valuing reorganized debt and equity tools, along with evaluating the fairness of proposed re-organization strategies.
A&F Real Estate Appraisal Services is an independent Chapter 7 home appraisal company serving Miami-Dade, Broward, Palm Beach, and Monroe Counties, South Florida. We provide the highest quality bankruptcy appraisals, unmatched customer service, and the lowest prices, guaranteed! Contact us to schedule your Residential Property Appraisal. Call (305) 573-1577 of fill out our Contact Form TODAY!
Watch the video below to learn even more about bankruptcy appraisals.