Let Us Help You Protect Your Home and Properties
The value of your home and other properties you may own is crucial. We need to work together to make sure those properties are exempt. Exempt property is property you don't need to surrender. It is property you don't need pay money to the bankruptcy Trustee to keep. We can explain this during our free one hour consultation. We want to make sure your property is safe.
We don't want to make it sound easier than it is. Assessing the value of assets, the direction of the market, neighborhood conditions, foreclosure and distressed prices, and the condition of a particular home takes skill. If required, we recommend our clients retain an appraiser. We use our knowledge and training as bankruptcy attorneys to start the process. If we, as a team, feel confident based on your knowledge coupled with AVM data, we can file for bankruptcy protection. It is always our client's choice. We provide the legal context and assist in uncovering the facts.*
Our goal is to save you money while cutting no corners. To give you evidence of value to supplement your personal knowledge (and to have it ready for the Chapter 7 or Chapter 13 Trustee), we offer a wide-range of data services.** Our job is to exercise reasonable care to file only true information that isn't misleading. Your interest in succeeding in your bankruptcy filing with the least disruption requires nothing less of you. The exercise of reasonable care includes the use of readily available electronic data. Isn't technology awesome?
Our First-Level Real Estate Databases are Strong . . .
We utilize a service that allows us to go far beyond glancing at Zillow. We obtain appropriate transaction history documents on each property, including loans, grant deeds, and default notices. We may decide to examine the way property is held by multiple parties to determine if there are issues in your bankruptcy. Our first-level tool provides property information, foreclosure information, estimated value, and estimate loan pay-off. We can ordinarily obtain a report and the necessary documents from $5 to $25 (approximately $2.50 per recorded document).
Our Second-Level Real Estate Databases are Stronger . . .
When necessary, we can utilize our commercial-level database. "AVM" stands for automated valuation model. It means that the market trends and comparables, with other apprpriate varaibles, were run through a computer program. The VALUE Advantage AVM takes a balanced approach between accuracy and hit rate in areas with sufficient data. It is an excellent valuation tool that delivers industry leading performance for residential property valuations while maintaining high usability rates.
VALUE Preferred builds on VALUE Advantage by providing a weighted balance between valuation accuracy and hit rate. This AVM has a more stringent focus on accuracy. When accuracy is more important than getting a wide sample of prices, VALUE Preferred is often the primary AVM.
VALUE Advantage and Preferred reports include value estimate, value range, confidence score, available subject property information, market data information and historic price trends for the subject's neighborhood. 12-month valuation forecasting can be added to each AVM report.
We also utilize Value REO. This AVM reflects the discount at which a typical distresses or bank-owned property in a specific neighborhood will sell. This is achieved with up-to-date listings of recent Notice of Defaults, Notice of Trustee's Sales, and Foreclosure Sales and rates. A Neighborhood Price Range chart that details normal market pricing metrics within your neighborhood is provided. Finally, we can obtain a historic time trend chart showing sales trends over the last three years.
We know this information doesn't come easily or cheaply. But it is important. We have appraiser-quality data at our fingertips for consideration at all times. We aren't appraisers. We aren't real estate agents. But when your home or investment property could be worth more than your exemption limit, the quality preliminary research we offer is essential.
Both Database Sources are Reasonable . . .
Access to reports and documents from our first-level database are included in your bankruptcy fee up to a cost of $25. Beyond that, we simply charge our cost to obtain the necessary real estate data prior to filing for bankruptcy protection. Access to our AVM models is also reasonable, given the quality of the data. We are able to achieve reasonable prices due to our volume of filings. AVM reports are available from $20 to $100 and we charge our clients our cost.
First American DataTree
We also subscribe to the most advanced and complete real estate valuation and title database available. It is from First American DataTree LLC, a national provider of property data and document images to mortgage and real estate-related businesses. With a repository of more than 6 billion document images, DataTree delivers the data, property reports and document images that help bring clarity and insight to bankruptcy decisions.
Our TotalView reports provide data on HOA status, tax information, market sale and foreclosure data, ownership history, comparable sales, involuntary liens, lien positions, and transfers.
You can review an example of a First American DataTree report.
*We always run basic property valuation tools, pull title and transfer documents, and review loans, liens, encumbrances, and equity. This work is part of our ordinary diligence. When necessary, we will indicate that additional and more detailed research is necessary and provide you with a written quote for those services the price of which is then included in the fee agreement. We do our job.
**Not all services are appropriate to all clients. We use our training, experience, and discretion to select and, possibly, recommend research that should be conducted.