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Estate Mavens: Help With Estate Liquidation

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Estate Mavens: Help With Estate Liquidation

Tips and resources for dealing with the liquidation of an estate. How to deal with mom and dad's stuff. Info  about professional appraisers.

Website: http://cdiannezweig.blogspot.com/
Members: 85
Latest Activity: Jul 6

Meet Your Moderators C. Dianne Zweig And The Estate Lady, Julie Hall

 About Julie Hall aka The Estate Lady

Julie is the author of The Boomer Burden:Dealing With Your Parents' Lifetime Accumulation Of Stuff  and How To Divide Your Family's Estate and Heirlooms. She is  a certified personal property appraiser and a  certified estate sale professional. She is president of The American Society of Estate Liquidators

Visit The Estate Lady Blog

Also Visit Our IAO Group: Estate Sale Connection Group 

 

C. Dianne Zweig is the author of Hot Kitchen and Home Collectibles of the 30s, 40s, 50s and Hot Cottage Collectibles for Vintage Style Homes and The editor of I Antique Online.com. You can find Dianne’s fabulous retro and vintage kitchen, home and cottage collectibles at The Collinsville Antiques Company of New Hartford, CT, a 22,000 feet antique emporium with an in-house retro café.

 

Read More About Caring For Mom and Dad on The Editor's Blog

Here is your direct link to "Vintage Mom And Dad"



Email me at dianne@cdiannezweig.com

Visit my website, CDianneZweig.com

Discussion Forum

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Comment Wall

Comment

You need to be a member of Estate Mavens: Help With Estate Liquidation to add comments!

Comment by C. Dianne Zweig Editor's Desk on March 20, 2011 at 9:43am
Comment by Jennifer Smith on March 5, 2011 at 10:28pm

I never let them leave the ball in my court.  I'll suggest they discuss it amongst themselves and get back to me when they are ready.

 

You'll find that sometimes, they will have a much higher price in mind since the items in the estate have a more personal value, so I feel that when they come in with that shocking sticker price, it is much easier for me to tell them that although the estate may be of such a value (usually it is not) that I just wasn't prepared to offer that much.  Then I'm able to not offend anyone.

 

You will rarely come close in the price each party has in mind.  It almost always is much more than you expected or much less.

Comment by Timesavers Estate Sales on March 5, 2011 at 10:10pm
I have a question for Jennifer regarding making an offer.....you say to let them make the first offer....but I find many times they will not, saying they have no idea what the total is worth.....what to do then?
Comment by Jennifer Smith on March 5, 2011 at 5:40pm

My name is Jennifer Smith.  We have been purchasing estates and reselling them for a number of years now.  Here is my advice:

1. I ask people prior to going to view the items what they have. This way I can research things on Terapeak so that I will have a price in mind.

2. Be honest. After taking a good look at the items, you need to be able to tell them if they are not worth your time and that they would be better off donating them and taking the tax deduction. If they are your time, continue to Rule 3!

3. Keep in mind that estates have a different value for those left dispersing it. They often hold a higher value for things than you or I would because many of those things have personal meaning to them.

4. Bearing this in mind though, TAKE YOUR TIME! and look over everything they have. It's important here to leave no stone unturned. While you are doing this, mentally add up what you would be willing to pay for each item. I round figures off to $5, $10, $20, etc. While it's
tempting to want to offer more in an attempt to help out, you have to keep the words "Profit Margin" in mind! Remember, you make the money when you buy!

5. With your figure in mind, (and I tell them this right at the first conversation about the estate) let them know that you will NOT make the first offer. Most often, people will come in lower than what you would have first offered.

6. If it is fair, take it! If not, explain why you feel this is high, citing your research and see if you can come to an agreement.

7. ALWAYS pack up the items yourself. I've learned this one the hard way. Many times, things I thought I bought did not make it into the packed items.  Also, dinnerware sets and other like items are often separated, glassware isn't packed safely for transport, etc.

8. I always make the offer on the entire estate, even if there are things that I truly do not want. This is for three reasons; 1. You can donate what you do not want, offsetting the price you paid with a nice tax deduction. 2. You won't have time to pick through things and get everything that is worth something. Much of what may sell for a nice sum gets left behind. 3. You're doing them a favor by taking it all off their hands and not leaving them with leftovers to still take care of.

Comment by C. Dianne Zweig Editor's Desk on March 5, 2011 at 10:02am

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Comment by C. Dianne Zweig Editor's Desk on March 5, 2011 at 10:01am
Comment by C. Dianne Zweig Editor's Desk on March 5, 2011 at 10:01am
Comment by C. Dianne Zweig Editor's Desk on March 2, 2011 at 11:23am
Thanks Charles for this post, Dianne
Comment by C. Dianne Zweig Editor's Desk on March 1, 2011 at 8:33pm
Comment by C. Dianne Zweig Editor's Desk on March 1, 2011 at 7:56pm

 

The Boomer Burden by Julie Hall

 

There are approximately 78 million Baby Boomers and 40 million people over 65 yrs. old.
With increasing numbers of boomers and older adults across the globe, they are all leaving behind a lot more than their children bargained for.

 

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