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, he is required by law to give a full report of all assets under his 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 need to be considered when valuing real estate. 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 Fulton County Property Appraiser, is highly recommended.
Based on this appraisal, the judge assigned to your case will determine whether the real estate is liable for exemptions or if it exceeds the level of protection allowed in bankruptcy.
Once you hire a bankruptcy appraiser with Fulton County Property Appraiser, the process of the valuation begins. The appraiser conducts an analysis of the local market, particularly your neighborhood and its trends, to determine the market value. They then 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.
Rest assured that when you contact Fulton County Property Appraiser, the appraiser assigned to you has the required knowledge, skill, and expertise needed to put your mind at ease for your bankruptcy appraisal.
Call Fulton County Property Appraiser directly with any questions concerning your bankruptcy at (404) 907-1846. We have the experience and qualifications to meet all of your appraisal needs.