I was reading and I came across something called hypothetical disposal cost. The article was saying that when a trustee is looking at liquidating your property, namely, a house, they have to figure in a 10% disposal cost. So even if you have a few thousand left over after your exemptions, they have to figure the 10%. Has anyone heard of this?!?!?!
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This makes sense. The trustee pays a realtor their 6-8% commision if the property sells. The trustee can't wait forever for the "best" price, so it might sell for less than appraised value. Also, there may be closing costs the seller has to bear. 10% seems plausible.Filed Chapter 7 July 2010
Attended 341 September 2010
Discharged November 2010 Closed November 2010
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