How is fair market value set for a used kitchen appliance?
By what a willing buyer would pay in the resale market for that brand, model, age, and condition, which is usually a small fraction of the new price even for working units. Comparable sold items, not catalog prices or replacement quotes, are the evidence reviewing parties accept.
Why do percentage-of-new formulas fail for appliance values?
Because they ignore the used market entirely. A refrigerator or stand mixer can sell for a small share of original retail despite working well, and flat depreciation percentages that don't match condition, age, model, and local demand are routinely rejected in favor of market evidence.
What role does condition play in appliance FMV disputes?
A decisive one. The line between good used condition and merely usable can swing value by hundreds of dollars, and poor-condition units often approach zero. Brand, model number, photos, and documented working status are what settle those disagreements, so we capture them in every appliance report.
Do built-in appliances count in a home's appraised value?
Under FHA guidance, only appliances that remain with the property and contribute to market value are included in the value conclusion, and those must be operational. The FHA kitchen minimum is a sink with potable running water and a stove hookup, not necessarily an installed stove.