subject: Getting A Good Bankruptcy Appraisal Can Make The Whole Process Smoother [print this page] When you are filing for bankruptcy, there are a number of steps in the process. One of the most important is getting a good bankruptcy appraisal. You are filing because you want to improve your financial future. You are going to need to locate someone trustworthy to make sure the appraisal of your estate is a fair one.
Valuing estates is part of an appraiser's job. But you need the appraiser to put the same kind of effort into this job as if it was being done for his or her own property. Many elements will have to be considered in doing this assessment.
Every detail regarding your property must be taken into consideration. The appraiser will have to look at the improvements you have made to the home. Location of the property is also important, both within the area itself as well as in relation to other properties. Current marketplace trends must also be reviewed so that the future value of the property can realistically be assessed.
There are just a few of the questions that need to be answered and applied to your property. There are many more as well. You need to be sure that your appraiser is really going to take the time to review all of these things.
Another factor in the process will be the report that is prepared by the appraiser for the court. It is not enough to value the property fairly. All details must be prepared within a document given to the court so that it is clear, can be easily understood and contains all the required information so that your case is given fair treatment.
What is included in the report and how it is written up is one thing. Another factor that can be important is the actual credibility of the appraiser as well. This is partly determined by the quality of the report itself. It is also determined by the experience and the reputation of the appraiser.
The particularly licensing that an appraiser has is one aspect of this credibility. It may be helpful if the person is experienced enough that the court recognizes the name. If a judge is used to getting good reports from a particular appraiser, yours may be more favorably received as well.
Deciding to declare bankruptcy probably wasn't an easy decision for you to make. Now that you have made that decision, you want to do everything you can to make the process as easy as possible, with the most favorable result. Getting the right bankruptcy appraisal is a key way to ensure that the process goes smoothly.
