Residential Bankruptcy Appraisal Guide

Updated August 17, 2026. Educational information only; not legal, tax, lending, engineering or accounting advice.

Confirm the value question and date

The client and counsel should identify whether current or retrospective value is required and what property interest must be analyzed. The date should be confirmed before comparable research begins.

A historical assignment may require evidence of earlier condition and market circumstances. Today's assessment or automated estimate does not answer that question automatically.

Understand the ownership and property package

Provide deeds, surveys, parcel maps, leases and information about life estates, multiple parcels or shared interests. The appraiser does not render title opinions but must know what is being valued.

Custom construction, acreage, waterfront, accessory units and outbuildings should be disclosed before inspection because they can expand research and reporting needs.

Document condition and improvements

Make the property accessible and provide major improvement dates, permits, plans and records of damage or unfinished construction. For retrospective dates, distinguish later work from what existed then.

Condition descriptions should be factual. Repair estimates, engineering conclusions and code determinations require the appropriate specialists.

Use market evidence rather than desired outcomes

Comparable selection and adjustments should reflect market behavior around the effective date. A required debt amount, exemption goal or negotiation position is not valuation evidence.

When data is thin, expanded searches and qualitative analysis may be necessary. The report should explain uncertainty rather than manufacture precision.

Plan delivery and testimony

Confirm report format, delivery deadline and whether consultation or testimony may be requested. Allow adequate time for verification and quality control.

Legal strategy, filing decisions and the court's ultimate treatment remain outside the appraiser's role.

Assignment planning checklist

• Confirm client
• Confirm intended users
• State intended use
• Confirm effective date
• Identify property interest
• Provide deed and survey
• Document improvements and condition
• Disclose unusual features
• Allow complex research time
• Discuss testimony separately