One of the most difficult situations one has to face is whether to file for bankruptcy or not. However, the hassle of being financially drained doesn't end in making that decision, the greater challenge is the whole process you have to go through. When filing for bankruptcy you need to submit a thorough report of all your current assets, and most often, a debtor's greatest asset is his real estate holdings. The best way to get a clear and detailed summary of all your real estate assets is by getting a bankruptcy appraisal.
An appraiser will analyze all your estate properties and provide a credible report of its current value. You may hire your own appraiser or let your lawyer handle the process for you. Regardless of who will choose the appraiser, you need to be sure you have a credible person who will calculate and examine your assets. It can also help if the appraiser will be willing to testify in court if there is a need to.
It is critical to select your appraiser because the bankruptcy judge will either accept or reject your home valuation based on the documents submitted to the court. Appraisals come in different forms, there are Automated Valuation Models that can give you a low cost valuation of your properties, but is less accurate and wouldn’t stand out in court. There are also Desktop and Drive-By appraisals which are provided by licensed appraisers but have limited scope reports. Then there is a full appraisal by a licensed appraiser which provides a very detailed report of your real estate holdings. Statistically speaking, a full appraisal is the most credible way to prove to the court that you have a precise bankruptcy documents. It costs a bit more but your assurance of getting approved by the bankruptcy judge is raised to 99%.
The bankruptcy judge has the final decision for all proceedings, thus it is necessary to provide the court with a thorough, detailed and strongly supported report. Veteran bankruptcy judges only trust state-licensed appraisers with a proven history of preparing accurate appraisals.
Precision Appraisals exists to offer excellent customer service, accurate appraisals and quick turn times. Our Sr. Appraiser, Ken Lavertu is very experienced with the intricacies and challenges of the appraisal industry. He is highly aware of the unique needs and the time sensitivity of the situation, and makes sure the appraisal process will go as smooth as possible for the parties involved. Precision Appraisals specialize in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.
Give us a call today with any questions you might have about Greenville bankruptcy appraisal or any other appraisal needs, and also check out our ‘Praise’ page and see what others are saying about Ken Lavertu and Precision Appraisals.
What Areas Do We Cover? And What Do We Appraise?
It is important to ensure your appraiser has good local knowledge. Our specialty is the following areas:
- Greenville
- Spartanburg
- Anderson
- Simpsonville
- Taylors
- Greer
We appraise all kinds of real estate from traditional family homes to condos, farms and everything in between.
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