USPAP-compliant appraisals establishing liquidation or fair market value for bankruptcy court proceedings. AppraiseItNow appraises equipment and machinery, business interests, boats, automobiles, and inventory to support trustee reviews and creditor challenges.
Valuations by experienced appraisers across assets
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Joe Kattan
Anne Hay, ISA AM
Jason Dolph, CAGA
Ashley Innes, ISA AM
Tim Roy, ASA, CEA
Justin Ramirez, ASA, ABV, CFA
Marnie Erkelens, CAGA
Raymond Ghelardi, ASA
Aron Blue
About AppraiseItNow's Bankruptcy Filing Appraisal Services
Bankruptcy filing appraisals establish the value of debtor assets for court proceedings, supporting Chapter 7 liquidation or Chapter 13 repayment feasibility determinations. These appraisals are triggered by court orders, trustee requirements, creditor challenges, or disputes over exemptions and equity. Because the Bankruptcy Code contains no single definition of value, appraisers must clearly define the applicable standard upfront, whether fair market value, orderly liquidation value, or forced liquidation value, and all reports must comply with USPAP.
AppraiseItNow delivers bankruptcy appraisals online and onsite across the United States, covering equipment and machinery, business interests, vehicles, boats, and inventory. Our mission is to deliver defensible, USPAP-compliant valuations with exceptional speed, professionalism, and client service.
What Does AppraiseItNow Appraise for Bankruptcy Filing?
AppraiseItNow covers every major asset class that commonly appears in bankruptcy proceedings, including:
- Equipment & Machinery – medical equipment, restaurant equipment, manufacturing machinery, and technology assets
- Business Interests – LLCs, S-corps, partnerships, fractional interests, and privately held stock
- Boats & Watercraft – sailboats, powerboats, yachts, jet skis, and personal watercraft
- Automobiles & Vehicles – cars, trucks, motorcycles, RVs, trailers, and classic vehicles
- Inventory – retail inventory, wholesale stock, raw materials, and finished goods
Who Does AppraiseItNow Serve?
- Debtors filing Chapter 7 or Chapter 13 petitions who need court-ready asset valuations to support exemption claims or repayment plans
- Bankruptcy trustees requiring independent appraisals to facilitate asset sales, creditor distributions, or estate administration
- Creditors and creditors' committees challenging debtor-reported asset values or seeking validation of collateral worth
- Bankruptcy attorneys and legal teams needing USPAP-compliant reports that will withstand court scrutiny and creditor objections
- Business owners navigating corporate or partnership bankruptcy who require formal valuations of business interests, equipment, or inventory
5-Star Valuation Services, Loved by Hundreds
AppraiseItNow offers online appraisals and onsite appraisals in all 50 states including New York, California, Texas, and Florida.
What is a bankruptcy filing appraisal?
A bankruptcy filing appraisal is an independent professional valuation of debtor assets prepared to support court proceedings, creditor communications, and restructuring or liquidation decisions. It establishes fair market value or liquidation value as of the petition filing date and is used in asset schedules, adequate protection discussions, and plan development. Reports must be credible, well-supported, and capable of withstanding review by trustees, creditors, and the court.
When is a bankruptcy filing appraisal required?
Bankruptcy filing appraisals are triggered by court orders approving appraiser employment, trustee needs for asset sales, creditor challenges to reported values, or disputes over equity and exemptions. Chapter 7 liquidation cases often require appraisals to determine liquidation proceeds, while Chapter 13 repayment cases may need them to assess repayment feasibility.
What types of assets need a bankruptcy filing appraisal?
Assets commonly requiring appraisal in bankruptcy proceedings include:
- Equipment and machinery such as medical equipment, restaurant equipment, manufacturing machinery, and technology assets
- Business interests including LLCs, S-corps, partnerships, fractional interests, and privately held stock
- Vehicles such as cars, trucks, motorcycles, RVs, trailers, and classic vehicles
- Boats including sailboats, powerboats, yachts, jet skis, and personal watercraft
- Inventory including retail stock, wholesale goods, raw materials, and finished goods
Who qualifies as an appraiser for bankruptcy filing purposes?
Appraisers must hold credentials from recognized organizations such as the ISA (International Society of Appraisers) or ASA (American Society of Appraisers) and comply with USPAP. Government employees, including U.S. judiciary and Department of Justice staff, are barred from serving as appraisers in bankruptcy cases. Appraisers with financial ties to the debtor, creditors, or the case should also be avoided to ensure independence and defensibility.
Are AppraiseItNow's bankruptcy filing appraisals USPAP-compliant?
Yes. All AppraiseItNow bankruptcy filing appraisals comply with USPAP, which requires a clear definition of the property, ownership rights, standard of value, premise of value, and the effective date of the appraisal. Reports identify intended users such as trustees, creditors, and courts, ensuring they are defensible throughout the proceedings.
What information do you need to get started?
Providing thorough documentation upfront helps ensure an accurate and defensible appraisal. Commonly needed items include:
- Ownership records or registration documents for the assets being appraised
- Recent tax returns, typically covering 2 to 3 years
- Bank statements and financial records
- Vehicle registrations and insurance documents, if applicable
- For business valuations: corporate tax returns, financial statements, and ownership documentation
- For inventory: inventory lists, cost records, and sales history
- Comparable sales data or broker opinions where available
How long does a bankruptcy filing appraisal take?
Turnaround times vary by asset type:
- Equipment and machinery: 7 to 10 days for most remote appraisals; 2 to 3 weeks for onsite inspections or larger collections
- Business valuation: 2 to 4 weeks for most engagements
- Automobiles: 3 to 5 days depending on complexity and number of assets
- Boats: 3 to 5 days for standard appraisals; marine surveys typically take 3 to 5 weeks to schedule and complete
- Inventory: 2 to 4 weeks depending on size and complexity
Rush service is available for equipment, business valuations, and inventory when deadlines are tight.
How much does a bankruptcy filing appraisal cost?
Fees vary depending on asset type, scope, and complexity, visit our pricing page for a full breakdown. Rush service and onsite inspections may affect the final cost.
Can you appraise assets located anywhere in the US?
Yes. AppraiseItNow provides appraisals across all 50 states, with remote appraisals available for most asset types and onsite inspections arranged when required.
Will my appraisal be accepted by the court?
AppraiseItNow appraisals are prepared to meet qualified appraisal standards, including a defined valuation date, documented methodology, credentialed appraisers, and a non-contingent fee declaration. While no firm can guarantee acceptance in every case, following these standards significantly reduces the risk of challenge by trustees, creditors, or the court.
Do you buy, sell, or broker assets?
No. AppraiseItNow provides independent appraisals only. We have no financial interest in any transaction, which preserves the objectivity and credibility required in bankruptcy proceedings.
What is the difference between fair market value and liquidation value in a bankruptcy appraisal?
Fair market value reflects the price an asset would sell for between a willing buyer and willing seller under normal market conditions, and is typically used in Chapter 13 cases to assess equity and repayment feasibility. Liquidation value reflects the price an asset would bring in a forced or quick sale, often lower, and is commonly used in Chapter 7 cases to estimate proceeds available to creditors. The appropriate standard depends on the chapter type and the specific purpose of the appraisal.
Does a bankruptcy appraisal need court approval for the appraiser's fees and employment?
If a trustee retains the appraiser, the court must pre-approve both the appraiser's employment and fees under Bankruptcy Code procedures. If you retain the appraiser directly as the debtor, court approval is not required, though advance payment is advisable to avoid disputes and ensure the appraisal is completed without delay.
Can trustees sell assets without a formal appraisal in Chapter 7 cases?
Yes. Trustees can bypass formal appraisals and sell or auction assets directly when values are straightforward or when the cost of an appraisal would exceed the benefit to the estate. However, if asset values are disputed, high-value, or required by court order, a formal USPAP-compliant appraisal is necessary to defend the valuation against creditor or debtor challenges.
Are there specific IRS forms or thresholds required for bankruptcy filing appraisals?
No specific IRS forms or thresholds apply directly to bankruptcy filing appraisals. The Bankruptcy Code does not define "value," so parties define the standard of value, fair market or liquidation, upfront, with deadlines tied to the petition filing date and court orders rather than fixed IRS timelines. Asset schedules filed with the petition must list current value, but no mandated appraisal format exists.
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