Our thoughts after initial consultation with BK attorney

[nednj36]

I received 2 estimates on "absolutely needed repairs" to make the house presentable for sale. The estimates along with the exemptions put me in position to be at zero equity or lower. Do you think the trustee will challenge this? Should I take photos? Two Realtors came by for market analysis and didn't take repairs into account - they just want to list for high price due to low inventory in my neighborhood.

[keepmine]

I received 2 estimates on "absolutely needed repairs" to make the house presentable for sale. The estimates along with the exemptions put me in position to be at zero equity or lower. Do you think the trustee will challenge this? Should I take photos? Two Realtors came by for market analysis and didn't take repairs into account - they just want to list for high price due to low inventory in my neighborhood.

None of us can speak for your trustee.

I'd take photos and carry those along with the estimates to your lawyer an see what he suggests.

[nednj36]

None of us can speak for your trustee.

I'd take photos and carry those along with the estimates to your lawyer an see what he suggests.

OK Thanks

[ValleYum]

Also you may want to point out that if the repairs aren't made, it is likely the house will not pass the mortgage company's and/or the buyer's inspection (to make sure the value of the home is > or = the amount of the loan).

Example: When hubby and I bought our last house, there was some question if the 30-year guaranteed roof had five years of 'life expectancy' left - the sellers had to supply the mortgage company's inspector with the roof repair receipt in order for the loan to be funded.

RE: photos, I would take them to your lawyer - the documentation could prove useful - I would rather have it on hand for my 341 meeting and not need.

Good Luck and welcome to the forum!

[kilowatt]

You should consult with several more attroneys.

[keepmine]

Also you may want to point out that if the repairs aren't made, it is likely the house will not pass the mortgage company's and/or the buyer's inspection (to make sure the value of the home is > or = the amount of the loan).

Example: When hubby and I bought our last house, there was some question if the 30-year guaranteed roof had five years of 'life expectancy' left - the sellers had to supply the mortgage company's inspector with the roof repair receipt in order for the loan to be funded.

RE: photos, I would take them to your lawyer - the documentation could prove useful - I would rather have it on hand for my 341 meeting and not need.

Good Luck and welcome to the forum!

Good point. Particulary if VA or FHA is involved.

[nednj36]

Thank you for feedback--useful!