NAC

A few years ago a transmission shop advertised by suggesting that if one planned ahead and used their services now, it would save an incredible amount in the future by eliminating potentially catastrophic problems. Whether or not that actually happened is unknown, but the premise seems sound-whether it be cars or selling your house and its contents.

A little foresight and planning will pave the way for an easier move and the sale of one's possessions. The steps are easy and few. (Take it from someone who's been on both sides of the table.) They are also very important.

1. Know what you have, not what you think you have. Proper identification of an object, whether real estate or a diamond ring, is essential. Keep all invoices and original receipts, particularly of antiques and collectibles. Although not always accurate, they do provide an opinion of one seller.
2. Take photographs and video images of your property. It provides a documentation of ownership and is a whole lot easier carrying around to show people than lugging a huge piece of furniture. It may relieve the necessity of an agent coming to your house to look at your treasures and charging a service call.
3. Keep a notebook or binder with a list of your property. Make columns for description, age, provenance (where you got it from), original cost, and special factors (i.e. George Washington sat on it).
4. Hire a professional to "walk thru" the house to provide an unbiased opinion of market value. Make sure it's not a 1) relative 2) neighbor or 3) part time dealer and/or sometime expert. You may not need a written appraisal (always the best procedure), but expect clear and concise information from someone in the day-to- day sale of your type of items. They should be able to separate the "bad" from the "good" and suggest ways to sell. DO NOT sell your items for cash to this person. They may act as a broker or agent, but avoid the obvious conflict of interest.
5. Inform your family of this "new found" knowledge. It may alter the wishes of your family members. (I don't want it if it isn't that valuable…maybe I'll keep it if it isn't that valuable…let's sell it and buy something new when we get there…etc.)
6. Trust a competent agent to sell your items for the highest possible price. Give them enough foresight and time to plan your sale, whether it be taken to their place of business or sold on site. They may suggest alternatives, including everything from a garage sale for the leftover junk to a trip to Sotheby's for the one good painting. Make sure a contract is signed.
7. Relax. You've done the best one can do. Rely upon the professionals to earn their money by selling your property. If you've done your homework, you will reap the rewards-not pay for them.