I own my home free and clear (no mortgage) and the trustee decides to order an appraisal of my home and it exceeds the 150k allowed exemption in Az, do they consider factors such as real estate commissions, closing cost, taxes, etc when determining the raw equity and value of our home.
ie;
Appraisal comes in at 185k
Az Exemption is 150k
Equity Gross is now 35k
Then subtract approx. 10% for all real estate fees $18,500
Adj. Balance of value equals $16,500 (which im assuming I can pay to the trustee to keep my house).
ie;
Appraisal comes in at 185k
Az Exemption is 150k
Equity Gross is now 35k
Then subtract approx. 10% for all real estate fees $18,500
Adj. Balance of value equals $16,500 (which im assuming I can pay to the trustee to keep my house).