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I. How We Work in Washington. Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services. APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
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Thank you all for answering my first question about the estate sale or appraiser. Can I ask what does it cost to hire the estate sale expert? Also, will the estate be charged taxes for this? Thank you again in advance.
No, you don't pay taxes on the items you sell in an estate sale. Like Lea says, the agent takes 40 or 50% of the proceeds. The one we hired cleaned my MILs house for $300, after the sale, to get it ready for selling. We hired a realtor to sell the house.
The net proceeds of the estate sale would be added to aunts income for the year.
As I said in my last post to you, estate sale companies generally take 40 to 50% of the proceeds of the sale, depending on the condition of aunties home, the trash involved, how much organization and sorting needs to be done, etc.
A decent estate sale co uses an appraiser for certain items if they are unsure of value. You do not pay extra for this. If you hire an appraiser, how are you going to SELL those appraised items? The true value of something is the amount people are willing to spend for it. Furniture is hard to sell, and goes for little, as a rule.
MY advice to you is to call the estate sale company as a first step and let THEM tell YOU the terms.
Liz, you will need to speak with the estate sales company for their prices, check out a couple of them to compare services vs rates.
I just had an appraisal done for donation purposes and I was quoted 500.00 to 2,500.00 for 3 items to be appraised. If you want them to do the leg work, it's time consuming because they HAVE TO look at what the items are selling for on multiple public platforms and then determine condition and average prices accordingly. My personal opinion is that this is an expensive route if it is a lot of little items that need researched for value.
The tax thing is going to be completely based on Aunties finances. I would encourage you to speak with a tax professional.
Example: my dad made +/-2500 monthly social security, he sold a property and received a 15k down payment and he carried the rest getting monthly payments, none of this was taxable because of his age and personal financial situation, I knew this because I spoke to my CPA. My dad did not need to file a tax return for several years before death. Please ask a tax pro.
Are you selling the belongings of someone who is alive, or already gone? This is crucial to know.
As to what they charge, I would take a few snapshots and would contact those who run estate sales in your area for information. We as a Forum of strangers from around the world would be guessing about all of this.
Most who ran estate sales back in the day came to visit and assess and were quite brutally blunt in whether to tell you to call 1-800-JUNK or have a sale. If a sale, then they would tell you how they arrange and do it all and what percentage they keep of the sale. They would then do all set up in most cases.
If your loved on is alive and you are simply eliminating a house full of treasures for them, then the money goes into their own assets accounts, with careful records you, as POA keep.
Do discuss all this with people in your area. And good luck. Look up "Estate Sales" online for your area. Hope you will update us how your search goes; your postings here will educate others.
By proceeding, I agree that I understand the following disclosures:
I. How We Work in Washington.
Based on your preferences, we provide you with information about one or more of our contracted senior living providers ("Participating Communities") and provide your Senior Living Care Information to Participating Communities. The Participating Communities may contact you directly regarding their services.
APFM does not endorse or recommend any provider. It is your sole responsibility to select the appropriate care for yourself or your loved one. We work with both you and the Participating Communities in your search. We do not permit our Advisors to have an ownership interest in Participating Communities.
II. How We Are Paid.
We do not charge you any fee – we are paid by the Participating Communities. Some Participating Communities pay us a percentage of the first month's standard rate for the rent and care services you select. We invoice these fees after the senior moves in.
III. When We Tour.
APFM tours certain Participating Communities in Washington (typically more in metropolitan areas than in rural areas.) During the 12 month period prior to December 31, 2017, we toured 86.2% of Participating Communities with capacity for 20 or more residents.
IV. No Obligation or Commitment.
You have no obligation to use or to continue to use our services. Because you pay no fee to us, you will never need to ask for a refund.
V. Complaints.
Please contact our Family Feedback Line at (866) 584-7340 or ConsumerFeedback@aplaceformom.com to report any complaint. Consumers have many avenues to address a dispute with any referral service company, including the right to file a complaint with the Attorney General's office at: Consumer Protection Division, 800 5th Avenue, Ste. 2000, Seattle, 98104 or 800-551-4636.
VI. No Waiver of Your Rights.
APFM does not (and may not) require or even ask consumers seeking senior housing or care services in Washington State to sign waivers of liability for losses of personal property or injury or to sign waivers of any rights established under law.
I agree that:
A.
I authorize A Place For Mom ("APFM") to collect certain personal and contact detail information, as well as relevant health care information about me or from me about the senior family member or relative I am assisting ("Senior Living Care Information").
B.
APFM may provide information to me electronically. My electronic signature on agreements and documents has the same effect as if I signed them in ink.
C.
APFM may send all communications to me electronically via e-mail or by access to an APFM web site.
D.
If I want a paper copy, I can print a copy of the Disclosures or download the Disclosures for my records.
E.
This E-Sign Acknowledgement and Authorization applies to these Disclosures and all future Disclosures related to APFM's services, unless I revoke my authorization. You may revoke this authorization in writing at any time (except where we have already disclosed information before receiving your revocation.) This authorization will expire after one year.
F.
You consent to APFM's reaching out to you using a phone system than can auto-dial numbers (we miss rotary phones, too!), but this consent is not required to use our service.
As I said in my last post to you, estate sale companies generally take 40 to 50% of the proceeds of the sale, depending on the condition of aunties home, the trash involved, how much organization and sorting needs to be done, etc.
A decent estate sale co uses an appraiser for certain items if they are unsure of value. You do not pay extra for this. If you hire an appraiser, how are you going to SELL those appraised items? The true value of something is the amount people are willing to spend for it. Furniture is hard to sell, and goes for little, as a rule.
MY advice to you is to call the estate sale company as a first step and let THEM tell YOU the terms.
I just had an appraisal done for donation purposes and I was quoted 500.00 to 2,500.00 for 3 items to be appraised. If you want them to do the leg work, it's time consuming because they HAVE TO look at what the items are selling for on multiple public platforms and then determine condition and average prices accordingly. My personal opinion is that this is an expensive route if it is a lot of little items that need researched for value.
The tax thing is going to be completely based on Aunties finances. I would encourage you to speak with a tax professional.
Example: my dad made +/-2500 monthly social security, he sold a property and received a 15k down payment and he carried the rest getting monthly payments, none of this was taxable because of his age and personal financial situation, I knew this because I spoke to my CPA. My dad did not need to file a tax return for several years before death. Please ask a tax pro.
This is crucial to know.
As to what they charge, I would take a few snapshots and would contact those who run estate sales in your area for information. We as a Forum of strangers from around the world would be guessing about all of this.
Most who ran estate sales back in the day came to visit and assess and were quite brutally blunt in whether to tell you to call 1-800-JUNK or have a sale. If a sale, then they would tell you how they arrange and do it all and what percentage they keep of the sale. They would then do all set up in most cases.
If your loved on is alive and you are simply eliminating a house full of treasures for them, then the money goes into their own assets accounts, with careful records you, as POA keep.
Do discuss all this with people in your area. And good luck. Look up "Estate Sales" online for your area. Hope you will update us how your search goes; your postings here will educate others.