It's getting serious...

[rrh]

Did the property appraiser assign that value or did they? It doesn't mean much if it isn't listed in the appraisal. Check into that because in our area the city wants taxes paid on the FF&E at the appraised value.

 

[muirford]

Gee, I am going to be the naysayer here, but depending on what's in the inn and the size of it, furnishing from scratch will cost at least $30K and maybe $50K, so don't be so quick to discount that figure to $0. You're buying it for what it's worth to you, not what the seller has depreciated it down to. If depreciation were a factor you'd be buying the B&B for less than the seller paid for it.
We have six rooms, two dining rooms, a big living room and a library. We don't have museum quality antiques but we've got good stuff, including some handmade beds and furniture. All of the bed sets are new, four bought within the last year. I'm pretty sure I have $15K worth of oriental rugs - the good ones, not machine made and from the Middle East in the Inn.
The furniture may not have value when you sell it but if you try to furnish a B&B from nothing with good stuff, you'll be lucky to only spend $30000, just in my opinion.

 

[Samster]

Gee, I am going to be the naysayer here, but depending on what's in the inn and the size of it, furnishing from scratch will cost at least $30K and maybe $50K, so don't be so quick to discount that figure to $0. You're buying it for what it's worth to you, not what the seller has depreciated it down to. If depreciation were a factor you'd be buying the B&B for less than the seller paid for it.
We have six rooms, two dining rooms, a big living room and a library. We don't have museum quality antiques but we've got good stuff, including some handmade beds and furniture. All of the bed sets are new, four bought within the last year. I'm pretty sure I have $15K worth of oriental rugs - the good ones, not machine made and from the Middle East in the Inn.
The furniture may not have value when you sell it but if you try to furnish a B&B from nothing with good stuff, you'll be lucky to only spend $30000, just in my opinion..

My comments were based on Ben's saying that the furniture wasn't in good shape (2 beds breaking down). That is NOT at all what your place is like! You have something quite different there.
All the better pieces were taken out of our second house & we had to buy quite a few things before I could even rent those rooms (to my way of thinking). Some folks will call some furniture "antique" but it really looks like garage sale stuff. Funny story...former owner asked me where I got this buffet in the hallway. Hmmm...It was there! I cleaned it up, buffed it up with some stain, put new hardware on the drawers and doors, and we attached an old mirror to the top. I have a nice table runner on the top & some buffet lamps. It was just kind of stuck in the hallway before.