In most cases, we will imply "replacement value" for personal property. How much would it set you back to buy the same thing again, supposing it were in the same (used) condition? As a rule, we'll conduct an interview to find out.

• An appraisal is often required for expensive jewelry or rare collectibles.
• It is customary to use the Kelly Blue Book Private Party value when estimating vehicle values.

Valuing real estate

Greenville, South Carolina, and the surrounding region, have seen substantial market increases. Thus, when answering the question "What is the fair market value of your home?", the listing price that a realtor in your neighborhood gives you within 45 days of your filing date is the safest valuation for you to use.

In Chapter 13, the amount payable on a vehicle may be reduced if the vehicle is older than three years. The value that may be used is the “retail value" (dealer price) in "current condition”

• This will likely require an appraisal.
• If the car creditor disputes the value that you have assigned the vehicle, you may need to go to court to settle the dispute.

Case law on vehicle valuations

InReBrown
Debtor was unable to refute the creditor's objection with proof of retail value.

InReOrtiz
Expert witnesses for both the Debtor and the Creditor offer testimony on the current retail value which is then evaluated by the court. 

Appraisal of mobile homes in Chapter13

If a mobile home is not permanently fixed so as to be called as real property, the lien on it may be reduced in value to the true market value.

• This requires a NADA appraisal

Case law on mobile homes

InReMcLain
In the case of not-real property, a mobile home's lien value may be reduced.

InReFord
A mobile home's status as real property depends on four criteria.

InreMagee
Intent has a key role in the process.