Estate Liquidation - Part 4

An Outcome to Wish For

Donation and Hauling Unsold Items & Preparing House for Sale

     Habitat for Humanity      http://www.lexhabitat.org/

Liquidating the personal property and preparing the residence for sale is a time consuming and labor intensive project. At this stage of the game I would say you have sharpened your networking skills. Getting the house on the market for sale is the ultimate goal and you are getting closer to that point. Let’s look at where we have been and where we are going.

Goals Achieved:

• Strategy for Project 
  
• Inventoried all the personal property
• Decided What to Sell
• Decided How to Sell

Goals that are in front of you are:

Donation-Boxing and bagging up unsold items for donation, Scheduling pickup for donations and Hauling and Disposal of all that is left

Boxing and bagging up unsold items for donation really need no further explanation. Tips on choosing a Charity does. Consider creating a list to explore the following:

• Does the charity offer a pick up service?
• Will they offer a 4 hour pick up appointment or just an 8 hour appointment?
• How much advance notice do they require?
• What items will they not accept?
• Does the charity have requirements on how the items are boxed or bagged?
• What are the guidelines for determining value?
• Will you be provided with a receipt?
• Who do they recommend you contact when they don’t accept certain items.

Looking at your Inventory List, there are a few items that are going to be hard to place. Let’s take these items and look at some options – oh my!

• Pianos and organs, believe it or not, they are often very challenging. Whether you sell or donate a piano, for purpose of LIABILITY, insist that it be removed by a professional piano mover. A reminder, the cost of the mover is an expense to be submitted to estate accountant.
• Same goes for grandfather clocks. Start a list for items that requiring a Professional Hauler.
• Any very large item or heavy item, especially if the route to the outside of the house involves stairs, sharp turns, or narrow hallways needs to go on the list for the Professional Hauler.
• Mattresses usually are not accepted by any charity. Add these items to the list for the Professional Hauler.
• Blankets, quilts and towels can be donated to animal shelters.
• Clothing has to be high-end, very fashionable or vintage to be able to be sold. For the rest of the clothing you have Consignment or Donation as your options. Consignment usually requires items to be freshly dry cleaned and they must be on hangers. Because of the time and expense involved many people often just go the donation route. however, if you are into the consignment scene you will of course choose to go this route.
• Personal items and clothing of ethnic or historical interest can be donated to cultural centers.
• Books (except for first editions and collections of antiquarian value*) can be donated to your local nursing homes, assisted living facilities, local libraries ( Friends of the Library e-mail is friends@lexpublib.org) and local schools. All usually accept books that meet their criteria.

                                                                                             * Google this topic for your local options

HAULING and DISPOSAL

                                   1 800 Got Junk    http://www.1800gotjunk.com/us_en/

• Consider hiring a local hauler to do this job-choose a reputable hauler who will dispose of everything in a legal manner that is kind to the environment.
• Sort large metal objects such as appliances from the other debris-landfills charge extra for appliances, recycle companies do not.
• Landfills often charge extra for mattresses and box springs
• Make separate arrangements for hazardous waste such as paints, thinners, fertilizer, and motor oil as landfills usually do not accept them.
• Consider ordering a large disposal bin from your local waste management company. They will haul and dispose of the debris for you.

PREPARING THE HOUSE FOR SALE 

    Lizette Fitzpatrick, Real Estate Agent

                               http://www.lizette.us/

• Consulting with your Real Estate Agent 
• Determine, find, schedule & supervise any tradesmen required to repair or paint
• Clean Up

Consult with your Real Estate Agent for recommendations for professional tradesman for the repairs and painting of the property. Discuss strategy on where to put your time; energy and money to prepare the property to maximize your return in today’s REAL ESTATE market.

Nest Week:

Recording Sales & Expenses