We’ve all heard stories of the garage sale that served up a $250,000 painting for a dollar. Anytime the downsize or estate settlement process takes place without the involvement of an Appraiser, the risk of losing potentially valuable things forever goes up. The fact is, that the vast majority of people downsizing or managing an estate are told to throw out hundreds of items averaging $50-$100 in value because the team of experts they’ve hired to guide them through the processes don’t include specialists who are qualified in personal property valuation. Just like you don’t hire a plumber to fix your car or a mechanic to build you a house, unless the professionals you partner with to assist with your downsize or estate settlement projects are appropriately qualified, you could be missing out on unrealized value.
When taking on the Estate Trustee role, should you “Do It Yourself” or hire third party partner(s) to help manage your responsibilities? The answer to this depends on a lot of factors about you and about the estate in question. It is important to do a little self discovery and situational analysis before deciding which path to choose. Here are some factors to consider when making your decision:
Topics: Estate Management
This is a question I get from time to time - typically when an estate or downsize seller has a familiarity or a relationship with one or more real estate agents already. The fact that a client has been considering agent 1 or 2 for awhile is not a surprise. With what some say is over 48,000 agents in the GTA alone, most people know at least one.
And with the vast majority of real estate advertising being spent on agent promotion - rather than property promotion, it is not uncommon to get the impression that only a select few in your community can get the job done right. Fair thought.
At Gordon’s Downsizing & Estate Services, one of the services we offer is helping customers manage what to do with their extra personal belongings when they downsize. We build and execute a personalized plan for each customer to accomplish this task. When there is a volume of items to be dispersed we typically use an online auction service, www.MaxSold.com to do so, as this method generates maximum value for our customers.
From time to time customers ask us whether they can remove an item from their auction once it is open and the short answer is “No, it’s not a good idea.” and this is why...