Also called bankruptcy valuation, a bankruptcy appraisal is the process of assigning a fair market value to your current home that is reflective of local market trends. When an individual files for bankruptcy, they are required by law to give a full report of all assets in their possession. While valuing smaller possessions is easy and can be done with simple calculations, putting a fair price for a house is complicated business.
Many factors prevalent in the market must be considered. For this reason, personal attorneys recommend that a bankrupt individual contact a real estate appraiser as soon as possible because potential discrepancies in the value of a house can cause long and painful delays in the filing process. It is primarily for this reason that hiring a trustworthy and experienced appraiser, such as those from Georgia Real Estate Appraisers, is highly recommended for your bankruptcy appraisal.
Once you hire a bankruptcy appraiser with Georgia Real Estate Appraisers, the process of the valuation begins. Your appraiser conducts an analysis of the local market, particularly your neighborhood, and its trends to determine the market value. They then will use at least three to six comparable home sales in the market area to support the value and provide a solid argument for the opinion of value established in the report. Our reports conform to the USPAP guidelines and all federal regulations and standards.
Rest assured when you contact Georgia Real Estate Appraisers for a bankruptcy appraisal, the appraiser assigned to you has the required knowledge, skill, expertise and connections with lawyers, so that your mind can be at ease while the process unfolds. Give us a call today. We have the experience and the qualifications to meet all your appraisal needs.