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5 Helpful Tips For Liquidating an Estate
As life changes, eventually there will come a time when you’ll probably have to move, downsize, or liquidate a loved one’s estate. You don’t have to go through it alone, however. Hopefully these tips will help you get organized and give you ideas on how to manage the process.
Take baby steps
Liquidating an estate can feel like a daunting task, but it’s important to start with a positive state of mind. Take it day by day and step by step. It always helps to write down a list of everything you need to do in order of priority.
Get help from friends and family
If a loved one has passed away and you’re in charge of liquidating the estate, ask your family to help you sort through everything to determine which items can be given away or sold. There might be valuables that are family heirlooms, so it’s good to have a family meeting to decide on specific pieces.
Make a list of everything you want to keep and set it aside
Jot down all the items you want to keep or give to friends or family as you sort and pack everything up. Make sure to store them in a safe place so that it doesn’t get mixed up with everything else.
Don’t throw it out
There are many organizations that will gladly accept donations including your local Salvation Army, Goodwill, Habitat For Humanity (for home building supplies), etc. You can also take old electronics and scrap metal to recycling centers. Always keep in mind that old adage: “One man’s trash is another man’s treasure”.
Enlist the help of a professional liquidation service or appraiser
Sometimes it’s a challenge to determine what is actually valuable and what is not. Many people tend to overvalue their items because of sentimental reasons or they paid a ton of money for them. That’s why it’s important to get help from a professional appraiser who can offer an unbiased opinion.
An estate liquidation service can be a tremendous help in this process as well, especially if you just don’t have the time or energy to do it all yourself. Here at Cal Auctions we can help you sort through items and conduct an online auction on your behalf so that everything gets sold at once. If you’re not familiar with auction houses, here’s what you need to know.
Are you in the San Diego area and still have questions about liquidating an estate or want to know more about our service? Give us a call at 619-326-9690 or email info [at] calauctions.com.