The concept of personal property appraisal in Maryland is something that’s confusing to many people. Do you hire an appraiser after someone has died and you’re cleaning out the estate? Or is property appraisal reserved for people who frequent auctions and walk away with big ticket mystery items?
Property appraisal applies to a wide variety of situations, including those listed above. Ideally, any situation in which you own property and plan on selling it for a value that has yet to be determined by a professional is grounds for property appraisal… which means you might need the assistance of a professional appraiser at any number of times! Take a look at five of the most common instances where having someone on hand to review and valuate your assets is going to benefit you:
- If you’re buried under massive debt and need to start liquidating your assets to pay back your dues, hiring a personal property appraiser in Maryland is going to give you some insight into wealth you might be sitting on in the form of tangible items! That old piece of jewelry at the bottom of your jewelry box or that vintage collection of records might help you climb your way out of debt!
- When relatives pass and leave their estate to you, you need to be quick in sorting it out before you’re levied with all sorts of burdens. Having an appraiser go through and call out the items that might fetch a monetary value at auction means being able to generate the funds you need to resolve their estate and any debts that might be leftover.
- Are you the kind of person who likes to flip houses, automobiles or buy up delinquent properties to re-sell at a gain? You’re likely going to want to have these items appraised before you try to sell them—especially if there’s a lot of inventory to deal with. Buying something like a storage unit blindly is going to absolutely require appraisal services before you try to recoup your money with everything inside of them!
- If you enjoy antiquing, you might find yourself a frequenter of a personal property appraisal services! Who knows what you’ll find sifting around in old malls and stores—it’s best to make sure you know the exact value of something after you buy it, to make sure you’re selling it or insuring it for the right value.
- Cleaning out your home after years and years of accumulation? If you stumble upon some things that look like they might have value attached to them, it’s a good opportunity to see if they really do! Things in your basement or attic might have more value than you think at first glance—only an appraiser can tell you for sure.
Keep in mind that not every suspected treasure is going to live up to your expectations and not every estate has treasure to be found. Sometimes, however, the best treasures are those that you thought were worthless, but actually have a small value attached to them!