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Appraisals
In a message dated 2/22/2010 2:43:25 P.M. Pacific Standard Time,
bk.lawyer@gmail.com writes:
I have had many conversations with over-confident potential bankruptors
who are way too cavalier about the topic.
- - - - - - - - - - - - - - - - - - - cut script for future use - - - - -- - - - - - - - - - - - - -
DEBTOR: I want to file Chapter 7 bankruptcy.
ATTORNEY: It seems you may have home equity above what can be protected.
DEBTOR: My aunt/uncle/co-DEBTOR: My aunt/uncle/co-worker/monkey filedbankruptcy and they're just lik
ATTORNEY: One, they're not you. Two, they didn't have a house with
possible equity.
DEBTOR: Zillow says my house is worth only $_____. I
The post was migrated from Yahoo.
I have had many conversations with over-confident potential bankruptors who
are way too cavalier about the topic.
- - - - - - - - - - - - - - - - - - - cut script for future use - - - - - -
- - - - - - - - - - - - -
DEBTOR: I want to file Chapter 7 bankruptcy.
ATTORNEY: It seems you may have home equity above what can be protected.
DEBTOR: My aunt/uncle/co-worker/monkey filed bankruptcy and they're just
like me and kept all their stuff.
ATTORNEY: One, they're not you. Two, they didn't have a house with
possible equity.
DEBTOR: Zillow says my house is worth only $_____. I
The post was migrated from Yahoo.
This is very well put by David. This may be the most important discussion we have with our homeowner clients. If there is any question as to whether the homestead exemption is needed or whether a home is at risk of being lost in a Chapter 7 case, the client must obtain their own evidence of value to make an informed decision. I too use Zillow as a starting point for value, and in cases where there may be equity I tell the clients "assume that the Trustee is going to call his (or her) own realtor and ask 'what can I get for that property?'. You need to know as accurately as possible what the Trustee's realtor is going to tell him (or her). You should talk to at least two realtors and get an honest evaluation of the value of your home before we can decide on the proper exemption. This is not something I can do for you."
Jim
James R. Selth
Weintraub & Selth, APC
12121 Wilshire Boulevard, Suite 1300
Los Angeles, California 90025
Telephone: (310) 207-1494
Facsimile: (310) 442-0660
E-Mail: jim@wsrlaw.net
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The post was migrated from Yahoo.
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In chapter 7 , these websites whether it be e-apprasals or Zillow, are good
only to see if further inquiry will be necessary. (Putting people on notice
that there might be equity). There is a view that bankruptcy valuations are
more to put the trustee on notice about the debtors assets. A perfect
valuation on every item would be great but it is unrealistic. [see 1991
Advisory Committee Notes to the Form 6 Schedules (A-J)] There are some
trustees that use zillow in order to see whether or not they need to hire a
real estate agent. There are sites that check multiple websites (yahoo).
My view is that Epprasials and Zillow are usually inaccurate and outdated,
but it is useful for understanding what the trustee might think the value of
the property is going to be and whether it might be worth it for the debtor
to hire an actual appraiser and/or talk to a real estate agent. I do not
like debtors being worried about whether their home will be exempt. If the
property value becomes a court issue then these sites are inadmissible.
David Jacob
This e-mail is from an Attorney and may contain information that is
privileged and/or confidential, including, without limitation,
attorney-client privileged communication(s) and/or confidential attorney
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have received this e-mail message in error, please e-mail the sender and
delete all copies.
On 2/21/10 10:09 AM, "robert90701@aol.com" wrote:
>
>
>
>
>
> Dear Larry:
>
> No but it doesn't matter if anyone heard of it. Can it be shown to be reliable
> evidence? There is a duty of reasonable inquiry.
>
> Good Luck starts with a strategy and a plan. Form a strategic alliance with
>
> Robert J. Suhajda, MS,CPA
> 17721 Norwalk Blvd. #43
> Artesia, CA 90701
> 562-924-8922
>
> Income Tax for Attorneys, Bankruptcy, IRS representation,
> Fiduciary income tax returns, Estate and Gift tax returns,
> Trust Protector, Independent Trustee, Court Accountings
>
>
> In a message dated 2/20/2010 10:56:29 P.M. Pacific Standard Time,
> go@gobklaw.com writes:
>> I've never heard of eppraisals but if they're like zillow, they're
>> equally inadmissible in court. You need to introduce an appraisal
>> with a declaration from a qualified individual, e.g., a duly licensed
>> appraiser.
>>
>> On Saturday, February 20, 2010, Alik Segal wrote:
>>> >
>>> >
>>> > I think they are like http://www.Zillow.com. Sometimes the two
>>> > websites have very different values. Both use computer algorithms to
>>> > come up with valuations.
>>> >
>>> > Alik Segal
>>> >
>>> > On 2/19/10, Larry Webb
>>> wrote:
>>>> >> CH7 Client has sent me an appraisal for his residence from
>>>> eppraisal.com
>>>> >>
>>>> >>
>>>> >>
>>>> >> Has anyone used or heard of eppraisal.com ?
>>>> >>
>>>> >>
>>>> >>
>>>> >>
>>>> >>
>>>> >> Larry Webb
>>>> >> email Larry@Webbklaw.com
>>>> >>
>>>> >>
>>>> >> Law Office of Larry Webb
>>>> >> 484 Mobil Ave. Suite 43
>>>> >> Camarillo California 93010
>>>> >> 805 987 1400
>>>> >> Fax 805 987 2866
>>>> >>
>>>> >>
>
>
>
>
charset="ISO-8859-1"
Re: [cdcbaa] Appraisals
In chapter 7 , these websites whether it be e-apprasals or Zillow, are good only to see if further inquiry will be necessary. (Putting people on notice that there might be equity). There is a view that bankruptcy valuations are more to put the trustee on notice about the debtor’s assets. A perfect valuation on every item would be great but it is unrealistic. [see 1991 Advisory Committee Notes to the Form 6 Schedules (A-J)] There are some trustees that use zillow in order to see whether or not they need to hire a real estate agent. There are sites that check multiple websites (yahoo). My view is that Epprasials and Zillow are usually inaccurate and outdated, but it is useful for understanding what the trustee might think the value of the property is going to be and whether it might be worth it for the debtor to hire an actual appraiser and/or talk to a real estate agent. I do not like debtors being worried about whether their home will be exempt. If the property value becomes a court issue then these sites are inadmissible.
David Jacob
This e-mail is from an Attorney and may contain information that is
privileged and/or confidential, including, without limitation,
attorney-client privileged communication(s) and/or confidential attorney
work product. If you are not the intended recipient, any dissemination,
distribution or copying is strictly prohibited. If you believe that you
have received this e-mail message in error, please e-mail the sender and
delete all copies.
On 2/21/10 10:09 AM, "robert90701@aol.com" <robert90701@aol.com> wrote:
Dear Larry:
No but it doesn't matter if anyone heard of it. Can it be shown to be reliable evidence? There is a duty of reasonable inquiry.
The post was migrated from Yahoo.
Dear Larry:
No but it doesn't matter if anyone heard of it. Can it be shown to be
reliable evidence? There is a duty of reasonable inquiry.
Good Luck starts with a strategy and a plan. Form a strategic alliance
with
Robert J. Suhajda, MS,CPA
17721 Norwalk Blvd. #43
Artesia, CA 90701
562-924-8922
Income Tax for Attorneys, Bankruptcy, IRS representation,
Fiduciary income tax returns, Estate and Gift tax returns,
Trust Protector, Independent Trustee, Court Accountings
In a message dated 2/20/2010 10:56:29 P.M. Pacific Standard Time,
go@gobklaw.com writes:
I've never heard of eppraisals but if they're like zillow, they're
equally inadmissible in court. You need to introduce an appraisal
with a declaration from a qualified individual, e.g., a duly licensed
appraiser.
On Saturday, February 20, 2010, Alik Segal
wrote:
>
>
> I think they are like http://www.Zillow.com. Sometimes the two
> websites have very different values. Both use computer algorithms to
> come up with valuations.
>
> Alik Segal
>
> On 2/19/10, Larry Webb
wrote:
>> CH7 Client has sent me an appraisal for his residence from
eppraisal.com
>>
>>
>>
>> Has anyone used or heard of eppraisal.com ?
>>
>>
>>
>>
>>
>> Larry Webb
>> email Larry@Webbklaw.com
>>
>>
>> Law Office of Larry Webb
>> 484 Mobil Ave. Suite 43
>> Camarillo California 93010
>> 805 987 1400
>> Fax 805 987 2866
>>
>>
Dear Larry:
No but it doesn't matter if anyone heard of it. Can it be shown
to be reliable evidence? There is a duty of reasonable inquiry.
Good Luck starts with a strategy and a plan. Form a strategic alliance with
Robert J. Suhajda,
MS,CPA
17721 Norwalk Blvd.
#43
Artesia, CA 90701
562-924-8922
Income Tax for Attorneys, Bankruptcy, IRS representation,
Fiduciary income tax returns, Estate and Gift tax
returns,
Trust Protector, Independent Trustee, Court
Accountings
In a message dated 2/20/2010 10:56:29 P.M. Pacific Standard Time,
go@gobklaw.com writes:
The post was migrated from Yahoo.
I've never heard of eppraisals but if they're like zillow, they're
equally inadmissible in court. You need to introduce an appraisal
with a declaration from a qualified individual, e.g., a duly licensed
appraiser.
On Saturday, February 20, 2010, Alik Segal wrote:
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> I think they are like http://www.Zillow.com. Sometimes the two
> websites have very different values. Both use computer algorithms to
> come up with valuations.
>
> Alik Segal
>
> On 2/19/10, Larry Webb wrote:
>> CH7 Client has sent me an appraisal for his residence from eppraisal.com
>>
>>
>>
>> Has anyone used or heard of eppraisal.com ?
>>
>>
>>
>>
>>
>> Larry Webb
>> email Larry@Webbklaw.com
>>
>>
>> Law Office of Larry Webb
>> 484 Mobil Ave. Suite 43
>> Camarillo California 93010
>> 805 987 1400
>> Fax 805 987 2866
>>
>>
>> WARNING And Tax disclaimer
>> This E-mail is covered by the Electronic Communications Privacy Act, 18
>> U.S.C. 2510-2521 and is legally privileged. This information is
>> confidential information and is intended only for the use of the individual
>> or entity named above. If the reader of this message is not the intended
>> recipient, you are hereby notified that any dissemination, distribution or
>> copying of this communication is strictly prohibited. It is for the use of
>> the named addressees and may not be disclosed to anyone else without the
>> express consent of the originator. If you have received it in error you must
>> not use, disclose,copy, or rely on its contents and should destroy it
>> immediately. If you need any further information, please contact the
>> originator of this message.
>>
>> IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
>> U.S. federal tax advice provided in this communication is not intended or
>> written to be used, and it cannot be used by the recipient or any other
>> taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
>> on the recipient or any other taxpayer, or (ii) in promoting, marketing or
>> recommending to another party a partnership or other entity, investment
>> plan, arrangement or other transaction addressed herein.
>>
>>
>>
>>
>>
>>
>
> --
> Alik Segal
> Alik.Segal@gmail.com
> 310-367-3626
> Cal. CD, Los Angeles
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Giovanni Orantes, Esq.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Phone: (888) 619-8222 x101
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN
BERNARDINO AND SANTA BARBARA.
Note: The information contained in this e-mail message is confidential
information intended only for the use of the individual or entity
named. If the reader of this message is not the intended recipient or
an agent responsible for delivering it to the intended recipient, you
are hereby notified that any dissemination, distribution or copy of
this communication is strictly prohibited. If you have received this
communication in error, please immediately notify us by telephone or
e-mail and delete the original e-mail at (213) 389-4362 or (888)
619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements
imposed by the Internal Revenue Service, we inform you that any U.S.
tax advice contained in this communication (including any attachments)
is not intended to be used, and cannot be used, for the purpose of (i)
avoiding penalties under the Internal Revenue Code or (ii) promoting,
marketing, or recommending to another party any transaction or matter
addressed herein.
The post was migrated from Yahoo.
I've never heard of eppraisals but if they're like zillow, they're
equally inadmissible in court. You need to introduce an appraisal
with a declaration from a qualified individual, e.g., a duly licensed
appraiser.
On Saturday, February 20, 2010, Alik Segal wrote:
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> I think they are like http://www.Zillow.com. Sometimes the two
> websites have very different values. Both use computer algorithms to
> come up with valuations.
>
> Alik Segal
>
> On 2/19/10, Larry Webb wrote:
>> CH7 Client has sent me an appraisal for his residence from eppraisal.com
>>
>>
>>
>> Has anyone used or heard of eppraisal.com ?
>>
>>
>>
>>
>>
>> Larry Webb
>> email Larry@Webbklaw.com
>>
>>
>> Law Office of Larry Webb
>> 484 Mobil Ave. Suite 43
>> Camarillo California 93010
>> 805 987 1400
>> Fax 805 987 2866
>>
>>
>> WARNING And Tax disclaimer
>> This E-mail is covered by the Electronic Communications Privacy Act, 18
>> U.S.C. 2510-2521 and is legally privileged. This information is
>> confidential information and is intended only for the use of the individual
>> or entity named above. If the reader of this message is not the intended
>> recipient, you are hereby notified that any dissemination, distribution or
>> copying of this communication is strictly prohibited. It is for the use of
>> the named addressees and may not be disclosed to anyone else without the
>> express consent of the originator. If you have received it in error you must
>> not use, disclose,copy, or rely on its contents and should destroy it
>> immediately. If you need any further information, please contact the
>> originator of this message.
>>
>> IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
>> U.S. federal tax advice provided in this communication is not intended or
>> written to be used, and it cannot be used by the recipient or any other
>> taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
>> on the recipient or any other taxpayer, or (ii) in promoting, marketing or
>> recommending to another party a partnership or other entity, investment
>> plan, arrangement or other transaction addressed herein.
>>
>>
>>
>>
>>
>>
>
> --
> Alik Segal
> Alik.Segal@gmail.com
> 310-367-3626
> Cal. CD, Los Angeles
>
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Giovanni Orantes, Esq.
3435 Wilshire Blvd. Suite 1980
Los Angeles, CA 90010
Tel: (213) 389-4362
Phone: (888) 619-8222 x101
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN
BERNARDINO AND SANTA BARBARA.
Note: The information contained in this e-mail message is confidential
information intended only for the use of the individual or entity
named. If the reader of this message is not the intended recipient or
an agent responsible for delivering it to the intended recipient, you
are hereby notified that any dissemination, distribution or copy of
this communication is strictly prohibited. If you have received this
communication in error, please immediately notify us by telephone or
e-mail and delete the original e-mail at (213) 389-4362 or (888)
619-8222.
IRS Circular 230 Disclosure: In order to comply with requirements
imposed by the Internal Revenue Service, we inform you that any U.S.
tax advice contained in this communication (including any attachments)
is not intended to be used, and cannot be used, for the purpose of (i)
avoiding penalties under the Internal Revenue Code or (ii) promoting,
marketing, or recommending to another party any transaction or matter
addressed herein.
The post was migrated from Yahoo.
I think they are like http://www.Zillow.com. Sometimes the two
websites have very different values. Both use computer algorithms to
come up with valuations.
Alik Segal
On 2/19/10, Larry Webb wrote:
> CH7 Client has sent me an appraisal for his residence from eppraisal.com
>
>
>
> Has anyone used or heard of eppraisal.com ?
>
>
>
>
>
> Larry Webb
> email Larry@Webbklaw.com
>
>
> Law Office of Larry Webb
> 484 Mobil Ave. Suite 43
> Camarillo California 93010
> 805 987 1400
> Fax 805 987 2866
>
>
> WARNING And Tax disclaimer
> This E-mail is covered by the Electronic Communications Privacy Act, 18
> U.S.C. 2510-2521 and is legally privileged. This information is
> confidential information and is intended only for the use of the individual
> or entity named above. If the reader of this message is not the intended
> recipient, you are hereby notified that any dissemination, distribution or
> copying of this communication is strictly prohibited. It is for the use of
> the named addressees and may not be disclosed to anyone else without the
> express consent of the originator. If you have received it in error you must
> not use, disclose,copy, or rely on its contents and should destroy it
> immediately. If you need any further information, please contact the
> originator of this message.
>
> IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
> U.S. federal tax advice provided in this communication is not intended or
> written to be used, and it cannot be used by the recipient or any other
> taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
> on the recipient or any other taxpayer, or (ii) in promoting, marketing or
> recommending to another party a partnership or other entity, investment
> plan, arrangement or other transaction addressed herein.
>
>
>
>
>
>
Alik Segal
Alik.Segal@gmail.com
310-367-3626
Cal. CD, Los Angeles
The post was migrated from Yahoo.
CH7 Client has sent me an appraisal for his residence from eppraisal.com
Has anyone used or heard of eppraisal.com ?
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18
U.S.C. 2510-2521 and is legally privileged. This information is
confidential information and is intended only for the use of the individual
or entity named above. If the reader of this message is not the intended
recipient, you are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited. It is for the use of
the named addressees and may not be disclosed to anyone else without the
express consent of the originator. If you have received it in error you must
not use, disclose,copy, or rely on its contents and should destroy it
immediately. If you need any further information, please contact the
originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
U.S. federal tax advice provided in this communication is not intended or
written to be used, and it cannot be used by the recipient or any other
taxpayer (i) for the purpose of avoiding tax penalties that may be imposed
on the recipient or any other taxpayer, or (ii) in promoting, marketing or
recommending to another party a partnership or other entity, investment
plan, arrangement or other transaction addressed herein.
CH7 Client has sent me an appraisal for his residence from eppraisal.com
Has anyone used or heard of eppraisal.com ?
Larry Webb
email Larry@Webbklaw.com
Law Office of Larry Webb
484 Mobil Ave. Suite 43
Camarillo California 93010
805 987 1400
Fax 805 987 2866
WARNING And Tax disclaimer
This E-mail is covered by the Electronic Communications Privacy Act, 18 U.S.C.
l
information and is intended only for the use of the individual or entity named
above. If the reader of this message is not the intended recipient, you are
hereby notified that any dissemination, distribution or copying of this
communication is strictly prohibited. It is for the use of the named addressees
and may not be disclosed to anyone else without the express consent of the
originator. If you have received it in error you must not use, disclose,copy,
or rely on its contents and should destroy it immediately. If you need any
further information, please contact the originator of this message.
IRS Circular 230 Disclaimer: To ensure compliance with IRS Circular 230, any
U.S. federal tax advice provided in this communication is not intended or
written to be used, and it cannot be used by the recipient or any other
taxpayer (i) for the purpose of avoiding tax penalties that may be imposed on
the recipient or any other taxpayer, or (ii) in promoting, marketing or
recommending to another party a partnership or other entity, investment plan,
arrangement or other transaction addressed herein.
The post was migrated from Yahoo.