Frequently Asked Questions - Estate Sales
1: What is an estate sale?
An estate sale is a sale of personal property - furniture, china, antiques, books, art, etc.
2: What is a moving sale?
A moving sale is provided for people who are moving or downsizing.
Normally the owners move and take what they need. Everything to be sold is left in the house.
3: Why should you hire an estate sale company?
Great Expectations Estate Sales & Appraisals offers knowledge of the fair market value of your items as well as experience and expertise to conduct and organize an efficient sale. This reduces a family's emotional stress and gives peace of mind.
4: How many items must I sell to be considered a moving sale?
An estate sale is normally the contents of an entire estate. The best way to know if you have enough merchandise to have a sale is to allow Great Expectations Estate Sales & Appraisals to come and walk through the estate. This service is free and we will be able to let you know if your estate warrants our services.
5: How much does it cost?
Our fee is a percentage of the total sale. The normal fee for an estate sale or a moving sale is 30% of the total sale. Sometimes a minimum is charged.
6: Who determines the price?
Great Expectations Estate Sales & Appraisals prices all items in the house. We have extensive knowledge in the pricing of most items. Occasionally other specialists are brought in to help.
7: Do you offer other services?
Great Expectations Estate Sales & Appraisals also offers appraisal services. We will be happy to appraise one item, or a house full. Click here to find out more details on this service.
8: How do I contact you?
By phone (804) 683-0238 or email greatexpectllc@yahoo.com9: How and when do I receive my money from the sale?
A check payable to the individual, executor or power of attorney is issued within 5 days after the end of the sale
Frequently Asked Questions - Appraisals
What is an appraisal?
An appraisal is an unbiased, supportable estimate of a defined value by a person who is trained in research and analysis, knowledgeable of the property being appraised, and who acts in accordance with accepted and professed standards of practice. An appraisal is contained in an appraisal report, which is a legal document that describes and values property in a manner that will stand up in court, if necessary.
What is a personal property appraisal?
A personal property appraisal refers to the appraisal of identifiable portable and tangible objects considered by the general public as being “personal,” for example, artwork, furnishings, antiques, collectibles, and residential contents. In other words, personal property is all tangible property that is not classified as real estate.
I just purchased a painting and the dealer offered to appraise it. Why then would I need an independent appraiser?
The dealer you purchase an item from has an interest in that item,
and that opens a window for conflict of interest in valuing that item.
An independent appraiser has no interest in that item, and therefore
can provide an unbiased opinion of value. Additionally, the dealer may
not know how to evaluate the item for its appropriate worth. Without
appraisal training on appraisal principles and procedures, he/she may
not understand the complicated variety of marketplace definitions that
are used to determine appropriate values for appropriate uses.
When do I need an appraisal?
Appraisals are useful or necessary in many circumstances. Some of the most common include preparing to donate, sell or insure an item, dissolution of marriage, estate dispersal, or obtain a loan.
What do you appraise?
Any personal property. In simplest terms, if something is movable it is personal property. Here are some examples: vehicles, collectibles, mobile homes, shop equipment, antiques, household contents....
Do you offer online appraisals?
We may accept limited online appraisals on a case-by-case basis. In such cases, the report will disclose that the appraisal was done based on the description given by the client, and that an in-person appraisal might reveal a different opinion of market value. Online appraisals are pre-paid.
Can more than one value apply to the same item?
Yes, the same item may have different appraised values depending on the intended use of the appraisal. To illustrate, the value for insurance coverage may be different than the value for estate tax, charitable donation or consumer resale. Qualified educated appraisers understand the many different types of values, assigned uses, and market levels. The professionals at MGF Appraisals will work with you to choose the proper type of value so that you can use the appraisal correctly and effectively.
Will you deliver the appraisal to someone else for me?
The appraisal is a confidential document and will be delivered only to the client who signed the contract.
If your opinion of value is far less than I anticipated, will the cost of the appraisal be reduced?
No. Appraisals are based on an hourly rate. (It is unethical to charge for an appraisal based upon the reported opinion of value.) Within USPAP standards, all opinions are based on documented evidence.
May I send you payment after my appraisal has been delivered?
Payment in full is due at the time you receive
your report.
How do I contact you?
By phone (804) 683-0238 or email greatexpectllc@yahoo.com