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Photo of attorneys Shelley Slafkes and Bruce Levitt
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Valuing Your Home In Bankruptcy

On Behalf of | Dec 10, 2013 | Bankruptcy Basics

When you file for bankruptcy protection, it is important to properly value your home. This is not always a simple task. You cannot simply rely upon tax appraisals. It is essential to work with an experienced bankruptcy lawyer to accurately determine the value of your home.

Why is it so vital to properly list the value of your home? It is important because you want to  ensure that any equity you have in your home is covered by the bankruptcy exemptions. It is important to confer with your lawyer at Levitt & Slafkes regarding this issue. Home values can be calculated from prices similar houses have sold for, public records of assessed value, and New Jersey market analysis from a New Jersey real estate agent. It may also be necessary to retain an appraiser to value your home. If you are considering filing for bankruptcy protection, the legal team at Levitt & Slafkes can help you determine the proper value of your home. Schedule your initial consultation today. If you are interested in learning more about Chapter 7 or Chapter 13 bankruptcy cases and how to properly value your home, contact Levitt & Slafkes, P.C. We are experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.