Welcome to the home inventory business. In response to your question, during your first meeting with the potential customer, you will discuss just what will be or will not be included in your inventory. When the customer wants the complete contents on the inventory, that will mean every salt and pepper shaker. It is whatever the client/customer wants.
I usually include an introductory statement with the final report that indicates what the customer told me was to be included. I then add a sentence indicating what areas of the house are not included in the inventory. This defines the limits of the work involved.
In some states, your estimate of value are not acceptable unless you are a licensed appraiser. When I approached estate attorneys for work they advised to link up with a licensed appraiser. Otherwise they couldn't use my services. As a result, I do not provide the estimate of value.
If the owner wants the value included, I might consider noting the value as "Customer's Estimated Value." This is then just for their personal use. It would not hold up when presented to the insurance claims department. (The insurance company is going to do their own evaluation before settling the claim.) The owner might use it as a guide to determine if they need to increase the value of their home owner's insurance. But that's about the only use I can imagine for a self estimate.
I hope this helps you.
George
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George A. Childs Owner
Quality Home Inventory Service, Inc. 24 Stockton Dr. New Castle, De. 19702
I am brand new, just started my 5 week start up. I am still having a hard time envisioning the actual inventory process. Am I correct in saying, it's whatever the client wants, be it just furniture, or everything in the curio cabinet, including the salt and pepper shakers from the trip to the Wisconsin Dells?
I agree with the importance of a household member following along. I hope that isn't usually an issue. Also, I was reading the postings, and saw a debate on whether or not to provide a value. Unless there was a standard guideline to use, I would prefer not to provide pricing. Has that been a big issue for anyone?
Thanks for any feedback you can provide and I would love any suggestions for us newbes.
