What’s My Home Worth?
Here at Bankruptcy Home Appraisers, our residential and income property appraisals can also be used to negotiate a sales price or to secure primary or secondary financing with private lender. With a certified appraisal in hand, you have a tool that will clearly state your property’s value to the lender, buyer, or seller.
Having an accurate valuation of your home will help you make decisions for the bankruptcy filing process, so you can protect your home when you file for bankruptcy.
All states provide a homestead exemption of some sort. The extent of that protection varies depending on the exemptions that are available to you when you are filing for bankruptcy.
If you have an accurate value of your house, you can deduct the mortgage balance and determine the equity. If the equity is less than the amount of the homestead protection available, your house will be protected in bankruptcy. If the equity exceeds the available homestead protection, your house may be at risk in a Chapter 7 bankruptcy, and Chapter 13 may be a better option.
There are several methods you can use to determine the value of your home before you file for bankruptcy. The method you chose will depend on your personal situation. In all circumstances, you will want to know the value of your property as of the date you are filing for bankruptcy.
At Bankruptcy Home Appraiser, our objective is to provide high-quality home appraisal services in a timely and cost-effective manner. Call us today for your complimentary consultation. We have the experience and expertise to meet all of your appraising needs.