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Chapt 7 need home valuation how do I get it? Zillow isn't enough....what is?

Deptford, NJ |
Filed under: Chapter 7 bankruptcy

Do I need to pay a realtor or is it free

Attorney Answers 7


  1. Just call a local realtor and ask for a comparative market analysis.

    This answer is offered as a public service for general information only and may not be relied upon as legal advice. No attorney-client relationship is created or is intended to be created hereby.


  2. You can call a local real estate broker and as them for a market analysis. You would have to ask when you call the broker whether they will do it for free or charge you for the same.


  3. In Washington we have market analysis for free from realtor. The real issue is what is the purpose of the value? You can testify by law what you believe it is worth. Someone else cannot use market analysis for evidence. They would have to use appraisal. Good luck.


  4. If the Bankruptcy Trustee is asking you for a property valuation, you need to ask the Trustee what level of valuation is needed. In some bankruptcy situations, the Trustee will need a paid for valuation from a certified residential appraiser, which will cost you about $300. Hope this perspective helps!


  5. If Zillow is not enough than probably a market analysis by a broker isn't either as there is no analysis typically included. I would pay for an appraiser, one possibility is to go get some proposals from the website of the National Association of Independent Fee Appraisers from NJ at

    http://www.naifaconference.com/index.php


  6. You can call a local Realtor and ask for a comparative market analysis. Usually they don't charge for this service but you should ask them first. If the trustee wants you to get an appraisal usually it costs between $300 to $400 depending on your location.


  7. A Compafrative market analysis provided by a real estate broker or a formal appraisal.

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