I know I should test for bleeding, but I haven't gotten in that habit yet. I finish my fabric edges with a zig zag stitch, group by similar color, add a color catcher to the load, wash with a smidge of woolite on delicate (shorter cycle) warm, and dry about 15 min. I drape the fabric in various places around the house for awhile before folding, as it's hard to tell when warm if the fabric is still at all damp. I then hand press and fold. There seems no point in going to the trouble of pressing with the iron at this point, since I will have to press the fold creases out again when fabric is used.