On September 23rd I posted a request for help here on the Appraisers Post and the AW Blog from a fellow appraiser who was seeking advice on an assignment where an uninhabited house full of valuable property, from antiques to books, required valuation and mold remediation (click HERE to read the original post). The advice and comments sent in return were excellent, and the appraiser was most appreciative of the responses. He send me the following update and asked if I would pass it along. His name and location remain confidential in order to protect the various parties involved.
I did make contact with the executor a few weeks ago just inquire as to the situation of the estate settlement and the mold issues. The mold was a powdery Gray-greenish mold and could be cleaned with some effort though it was thick. I was told that the gentleman, who was the previous owner, through a power of attorney maintained a high standard of insurance. The insurance company's adjuster, the executor, the lawyers and the local health department all met together for some time. It was discovered that the elderly gentleman maintained a very good inventory with all the invoices for what he paid for items and other important papers intact. The latest additions were dated to the years 2003 - 2004 periods (so it was still kind of current). The insurance adjuster then scheduled for a hazardous materials clean up company to clean the house. Three large tents were put up to house the cleaning of the personal property. There was a crew of about 40 people who undertook this task. Which was then inspected by the health department and other officials. Drywall had to be replaced in this case and the studs and flooring were bleached,washed and/or painted. I have no idea how well things cleaned up. It sounds like it was a simple wipe, sweep and wash kind of job.
The executor and the lawyers contacted various benefactors and alerted them to the situation that in lieu of their share of actual property they would receive a monetary compensation instead. They were offered a waiver to sign that if they wanted to attempt to purchase items for sentimental reasons that they could do so and would after wards receive them free of charge up to the value listed in the old inventories. (I think that this is kind of strange.) Those items like rugs, household linens, upholstered furnishings or other porous items that could not be cleaned were "bought" by the insurance adjustor's company (based again on the old inventories) and the executor settled, with increases for inflation and other variables, for an undisclosed amount. The library was on the far end of the house and was not affected to the degree that the rest of the house was. All art work and books were successfully cleaned. There is an auction scheduled for sometime this early December for general household and antique items. The art work and very high end pieces have since been sent out of state to a regional auction house. All in all this was very complicated and I'm glad that I was kept out of the loop.
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