Question What do trustees use to get fair market value of your house?

[Hlc]

To determine the value and equity in my house and hoping that I don't have to pay for an apprasial what are some sources that I can use, and what sources do the trustee use?

Thanks

[SunshineGal]

I don't know what the trustees use, but I used Zillow, and Cyber Homes, looked at the recent sales and then came up with a number from there. Zillow isn't accurate, but if you go to recent sales in the area and look for similar properties sold within 6 months and 1 mile, you can get a very good idea of what your house is worth. I would imagine the trustees probably start with an AVM and then order a CMA or an appraisal if they believe theres equity there.

[justbroke]

A Trustee will use a variety of sources including, but not limited to, automated valuation methods (AVMs), comparative market analysis (CMA), tax records, and even a full appraisal.

Some of the AVMs, that professionals have access to, are actually pretty good.

[keepinitreal]

To determine the value and equity in my house and hoping that I don't have to pay for an apprasial what are some sources that I can use, and what sources do the trustee use?

Thanks

Our bk attorney, who is also a Trustee, had us get a BPO (broker's price opinion). The BPO was 33% higher than zillow.com's value opinion.