Assessing value of home furnishings

iVillage Member
Registered: 03-26-2003
Assessing value of home furnishings
Thu, 08-20-2009 - 5:02pm

We are contemplating filing Chapter 7 and I've heard that we must provide values of all of our assets, including home, cars, etc...

iVillage Member
Registered: 05-20-2005
Fri, 08-21-2009 - 1:00pm
Just estimate what you could get for it at a garage sale.
iVillage Member
Registered: 03-17-2003
Sun, 08-23-2009 - 5:59pm

I agree with Jenn.

iVillage Member
Registered: 03-10-2010
Wed, 03-10-2010 - 12:25am

(reviving an old thread)

On the flip side, I'm picking up a short-sale before it gets to foreclosure and it's full of furniture. The seller is willing and I'm willing, but how the heck do you value a townhome of furniture. It looks like decent stuff. Above average even.

Two bedrooms, a loft with a sectional. A dining room set. A small living room with couch, armoire (sp?) and coffee table.

I'm planning on offering 5k for the whole shooting match. Figuring they would need to haul it out, likely to auction, etc. Is 5k in the ball park? Too high, too low?

Any ideas?