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  1. #1
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    Default Question about Financial Statements (court related)

    How do you figure out what an asset is worth? Like a car or a house?

    TIA




  2. #2
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    A house you pay property tax on and they base that assessment on what houses in your neighbourhood on average sell for. The car I am sure there is a calculator online or look for something comparable (that is what insurance companies do when you are in an accident and need to replace your car).

  3. #3
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    blackbook value for a car:
    Black Book Car Values, Find your Used Car Trade-In Value & Your New Car?s Future Value using the Black Book Value Tools. What?s your car worth?

    I don't know if it will hold up in court, but it is a starting point.

    As for a house, I would use the assessed value on your statement from MPAC as Babylove suggested. It probably has the value on your tax bill as well.

  4. #4
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    In addition to going online for a value of your auto you can take it to a dealer and have them give you an appraisal. I got a written one for one of my financial statements.

  5. #5
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    I work I the court system. Black book for the car will work. For the house, get a real estate agent to come buy and give you w written sales value estimate which includes comparables.

  6. #6
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    Black book is trade in value (what a dealer is willing to pay, not what its worth)

    Go for blue book value. That is the replacement valuation.


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