The What, How And Why Of A Bankruptcy Appraisal
If you are filing for bankruptcy, getting a bankruptcy appraisal may be one of the most important things you do. Filing for bankruptcy as a means to control of your finances is a difficult, yet sometimes necessary procedure. When you file, you must provide the court with transparent records of your income, debt and any other financial affiliations. While gathering current bills, collections statements and bank statements may not be so complicated, providing the value of your home is trickier. There are several types of bankruptcy filings. Briefly, a Chapter 13 bankruptcy stipulates that the debtor prepare a repayment plan with creditors, and a Chapter 7 states that
Should A Cash Buyer Get An Appraisal?
We received a call from a prospective client who asked about whether or not an appraisal was needed if she were a cash buyer. She went on to say that the price she was quoted by the homeowner seemed reasonable since her friend had purchased a house nearby for just about the same amount. However, she stated that she had not seen her friend's home yet and the square footage and number of rooms could not be determined. This means that her friend's home cannot be used as a valid comparable. Now, whether someone paying for their home with cash
Divorce Appraisal: The Basics
It's an unfortunate time when you are going through a divorce. Whether it is amicable or challenging, there are several things that need to be divided. A division of property (or properties) is often on top of the priority list for divorcing couples. But where do you even begin? You must begin with a professional divorce appraisal. This is mandatory because a judge cannot simply determine how much any home is worth on a whim or based on the testimony of either spouse. This is a legal procedure and must be done correctly. Either your attorney knows a local appraisal
Is A DIY Appraisal A Good Idea?
There are a great many online sites that allow you to check out how much homes in your area are worth. This makes it easy for the average person to feel like they can appraise their own home. While a DIY appraisal may seem like a cost efficient way to do things, there are a great many mistakes that can be made, and this can endanger a home sale. What are some reasons for researching comp sales on your own? You want to investigate what the current market is like You're buying a home and want to feel confident that
Reasons For Getting A Home Appraisal
Most people think that the only reason to get a home appraisal is because they are refinancing or financing a purchase of a home. There are actually a host of other reasons too. An appraiser is always a valuable third party correspondent in many other circumstances. Here are some examples where an appraisal may come in handy: Selling or Buying(Without Financing): This is one of the most common requests. Get an unbiased opinion of value from a certified appraiser who values homes for a living and does not have an interest in your home appraising too high or too low. Realtors do
What’s The Difference Between Tax Assessments And Appraisals?
When selling your home, it is important to understand the difference between tax assessments and appraisals. While these two processes may seem similar upon first impression, they serve very different purposes when factoring the true value of a home. A tax assessment is something governments can use to establish the value of a home. The tax assessor's office hires a professional company that sometimes uses a technique called a "mass appraisal". This is only useful for tax assessment purposes, and not at all useful for setting the asking price of a home. The assessment is a valuation of what the
