Who does one use to get a market analysis, home valuation, of their house? Does the appraiser have to have certain credentials?
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It depends on who you need the appraisal for. Most lenders require the appraiser to have certification, however most competent real-estate agents can give you a true "market-value".All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event....... -
The appraisal is for my bankruptcy.Comment
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You may not need an appraisal at all. You can estimate value however you and/or your attorney thinks makes sense. You will only need to back it up with an appraisal if the trustee or a creditor disputes the value you list. I used zillow.com which was probably high. It's not a very reliable way to value real estate, but you don't need to show the basis for your value on the schedules. Nobody disputed it, so it wasn't an issue.
I'm asusming that "for my bankruptcy" means to list it as an asset on your petition. There are other reasons to value property in a BK.LadyInTheRed is in the black!
Filed Chap 13 April 2010. Discharged May 2015.
$143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!Comment
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I also used zillow which for me may have been low, however it was "favorable" for my purposes and no one questioned it.Comment
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i agree with LadyInTheRed...we printed out a copy of zillow.com....along with some "local" comps from zillow...the trustee didn't even blink.8/4/2008
MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9Comment
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I asked the realtor who helped me find my house and her office did a free estimate/CMA for me. It showed the high end of my neighborhood and the low end - both of which were way less than I paid for this place. I have also heard though that zillow is accepted by the courts.Comment
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