Wednesday, January 22, 2014

Avoid The Do It Yourself Disaster


We at Timothy Loughmiller Estate Solutions pride ourselves on our ability to offer solutions to 99.9 percent of those who come to us. Sadly, however, there remains that .1 percent which is beyond anyone's ability to help.

A sad case in point is Brenda W. (not her real name) a hairdresser who had lost her mother and was faced with dealing with a heritage house full of antiques and collectibles. Brenda's difficulties were compounded because she lived in Las Vegas and had responsibilities there as well.

Brenda made the trip to Toronto to arrange for the liquidation of her mother's estate, and that's where the trouble began. Thinking she was doing the right thing by her mother, Brenda attempted to deal with the mountains of tasks by herself, but soon found herself overwhelmed and, several months later, was still in Toronto and no further along, becoming increasingly frustrated and angry.

By the time Brenda called us she had exhausted every other avenue open to her, and was desperate. To her credit she had attempted to sell the contents of the home herself, placing numerous ads online, but to no avail. Unfortunately, it would be these ads which would be her undoing.

Something that she and any non-professional liquidator would not know is that, because her address had been so heavily advertised for months, it would be next to impossible to get people to attend a sale now - the reason being is that the appearance is that either A, all the 'good' things are gone, or, B, that everything is WAY overpriced!

If you choose to sell your contents yourself,  please avoid Brenda's fate by following this simple advice: set a timeline, establish reasonable prices, and be open to negotiation even if offers seem insulting. Most importantly, set a deadline and adhere to it.

Of course, just as a professional is crucial in selling your home and realizing the best possible price, the same applies to the sale of contents. But whichever path you chose, commit yourself to it and follow it to the end.

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