Establishing a value prior to an estate sale
Non-certified Fair Market Value Appraisal. What is it?
Attorneys, beneficiaries, fiduciaries, as well as, family members sometimes need or want a value of items inside a home. That is called a fair market value appraisal. It is not an appraisal for insurance or replacement value, as you would think, that would be called a certified appraisal. With over 30 years working in the estate sale arena, we know the value that can be realized in an estate sale venue.
When family members divide up items in their families estate prior to an estate sale…
to remain fair and balanced, they want to know the value that each person will be receiving.
That is when a fair market value appraisal comes into play.
Another reason for a fair market value appraisal
We tailor the appraisal to the needs of the estate, for example, some estates do not have working capital. That being said, the cost of the liquidation process might exceed the total gross sales. Some homes, sadly to say, do not have items that have a high estate sale value. It would be nice for our clients to know that in advance, rather than just trade dollars. After the appraisal, the estate can decide whether it would be a better choice to donate or send to an auction.