Are you wondering why you should hire a professional for a personal property appraisal in Maryland? Let’s take a closer look at some of the benefits.
What an appraiser can do for you
For starters, if you have no idea of the value of something you own, then hiring the services of a professional appraiser is your best bet at finding out. They can answer your immediate questions about the value of items you’ve had for years or items you’ve recently acquired from a family member, saving you from selling mistakes and insuring things for the wrong value. Furthermore, the information you get from an appraiser will help you decide what to keep, find out what is irreplaceable and what is likely to appreciate in value, which is all valuable advice.
Another way an appraiser can be of assistance is in situations where an estate owner wants to know the value of their personal property while they are still alive. This gives the person a better idea of their estate’s value so they can divide inheritances among individual family members.
The internet has limited information
While the internet offers a wealth of information, it may not be the best place to seek the value of specific items you have inherited. There may not be enough detailed information to make a comparison between an item you now own and something similar you find on the internet. It’s not uncommon to go online only to find out what you’ve inherited is worth less than you thought, or to come across something online that looks the same, but is really very different.
It’s important to note that art can be incredibly difficult to value on your own. An appraiser can help determine the value of unique pieces based on the subject matter, the time it was made, its condition and other factors.
Find valuables where you wouldn’t expect
Inheriting a huge estate can be exciting and overwhelming at the same time. Hiring an appraiser will alleviate the painstaking task of placing the right value on items, while also possibly uncovering some unexpected surprises. Your loved one may have forgotten where they stored their true valuables—such as jewelry, coin collections, antique firearms, even cash—or that they’ve hidden them in coat pockets or a secret desk compartment. For this reason, appraisers recommend that you don’t give away anything until everything has been professionally appraised.
Decide whether to keep things for sentimental reasons
It’s common for people to think what they have is valuable simply because it has a personal family history. You may inherit an item you know is not worth much, but you want to keep it and appreciate it for its sentimental value. However, it still doesn’t hurt to get sentimental items appraised for your reference. Having all the information in front of you helps you to make better decisions about what to sell, what to give away and what to keep, as well as acting as a guide for insuring the items you do keep.
Call the team at Jane Campbell-Chambliss & Associates, LLC to request a personal property appraisal in Maryland today!