Property Valuation in Chap 7
Posted: Mon May 20, 2019 2:24 pm
COS is 6-10% depending on the Trustee. FMV is determined by a prospective broker after a physical inspection of the residence.
Wesley H. Avery, Esq.
Bankruptcy Trustee
758 E. Colorado Blvd. Ste. 210
Pasadena, CA 91101-2105
wavery@thebankruptcylawcenter.com
wes@averytrustee.com
(626) 395-7576 (office)
(661) 430-5467 (fax)
(661) 618-7376 (cell)
Certified Specialist
Bankruptcy Law
State Bar of California
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Business Bankruptcy Law
American Board of Certification
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On Monday, May 20, 2019, 4:09:21 PM CDT, tuanl@stevelopezlaw.com [cdcbaa] wrote:
Dear list,
What source does the Chap 7 trustee use to estimate value of real property?e should be protected by exemptions but when compared with what I am finding online (zillow, Redfin), it appears to come in low.
Does the Chap 7 trustee accept BPO still? Also, is cost of sale still 8%?
Thanks in advance for any insight.
Tuan Le
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