How Do Estate Sales Work? Experts Reveal Top Treasure-Hunting Tactics
How Do Estate Sales Work? Experts Reveal Top Treasure-Hunting Tactics

How Do Estate Sales Work? Experts Reveal Top Treasure-Hunting Tactics

Check for any signs of damage in the house that occurred during the sale, and reach out to your pro if you discover any issues. If the sale was a success and you are satisfied with the services of the estate sale company, take the time to leave them a positive review and offer to recommend them in the future. Most estate sale companies take anywhere from 25% to 50% of the total proceeds as their fee. You’ll want to sign a contract that clearly outlines the payment process and details such as sorting, tagging, staging, and clean-up. Double check that every step of the estate sale process lists who is responsible for what task.

Determine if You’re Going to Use a Professional Estate Seller or Sell Yourself.

You are not responsible for paying the debts as long as you are not a co-signer or a spouse. However, if obligations exist they may need to be paid out of the estate before heirs can benefit. If you do not need to liquidate your entire stock, include a price below which you will not be willing to sell. This website is using a security service to protect itself from online attacks. The action you just performed triggered the security solution.

Items without tags are not for sale.

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A professional removes emotion from the process and manages the sale objectively and efficiently from the beginning to the end. When you reviewed the three stages of an estate sale earlier, did you get a sense of how much work an estate sale can take? The role of an estate sale company is to handle virtually every aspect of an estate sale on the behalf of the family. Once entering the property, shoppers are usually permitted to roam about on their own. This allows them to peruse items for sale throughout the home and examine anything they might be interested in buying. Finally, they can pay for any items they want to purchase using cash, check, credit, or debit. Estate sales are a common way to distribute a loved one’s possessions after their death.

Bill has expertise in mortgages, financing, moving, home improvement, and general real estate. Place all your items in the center of the room to make traffic patterns flow smoothly. You’re going to find people will ask about things you don’t intend to sell. This is about as for sale by owner as it gets, but you know how much people love yard sales!

You’ll want to give yourself plenty of time to sort, stage and advertise your sale to ensure maximum success. We’ve also created a handy timeline and checklist for quick reference. An estate sale liquidates many of these assets by selling them. You might have an estate sale when you decide to downsize, after a loved one has passed on, before a divorce, or if friends or family move to a retirement home. Estate sales are similar to yard or garage sales but typically much larger in scale. During the sale, you can pick up small items you wish to purchase and take them to the checkout, and ask to have larger items marked as sold.

If a realtor has put the house on the market, the new owners may want certain items, and they’ll list those things in the contract. Ruby also says to wipe down any dusty surfaces and clean your items leading up to the sale.