The Do’s and Don'ts of Estate Sales

The Do’s and Don’ts of Estate Sales

The Do’s and Don'ts of Estate Sales

Thinking of hosting an estate sale? More and more people are downsizing and embracing minimalism, which is a great reason to hold an estate sale. As a matter of fact, there are many other great reasons you may want to turn your stuff into cash. Perhaps you merely want to clear some clutter or the film Hoarders is inspiring you. Here is a list of reasons you might want an estate sale.

  • You need help selling a house full of items.
  • You are required to sell items due to a court order or tax related issues.
  • Divorce
  • You are downsizing the list of items that you own
  • Liquidation of the estate of a loved one who has passed away.

No matter what the reason is, there are a few things to keep in mind when you hold an estate sale. Here are some dos and don’ts to keep in mind.

Do’s

Do Understand What an Estate Sale Is
Estate sales involve companies that come into your house and evaluate your estate. Your estate is the items you want to sell. The moment you hire a company, they will price, research, organize, clean and sort your items. They will also advertise and market your items including your furnishings and home collections. If there are items you don’t wish to sell, the company will remove them for you for donation or for keeping safe. Some companies even clean yards, garages and your house before the sale so that everything is in tip top shape.

Do Get Assistance
Estate sales in one sense are glorified garage sales with better advertising and more stuff. It is, however, not a good idea to try and do everything yourself. It takes a lot of detailed labor to sell an estate, some more specialized than others. It is a good idea to hire a company specializing in estate sales. Ask for referrals or recommendations from members of your family or friends you have that have had an estate sale. You can also do some research in your community at a company that does this. There are some companies that will only handle your estate sale if it has a ten thousand dollar or more value. Needless to say, finding out all you can about how to go hiring a company to manage your sale is highly recommended. Once you have an accepted sale, someone from the company will come and do an evaluation of your items for sale and get a contract written up. It can take up to thirty per cent of set up fees and commissions for running and advertising the sale. If you have special items, you might also want to get in touch with collectors.

Do Become Available on Set Up Day
On setting up day, the day when the company sends people to set up your house and things for sale, it is a good idea for you to be there. You might need to answer questions or provide great stories about items for interested buyers. Let them know how much you originally bought some items for. Make sure that the items you don’t want to sell are locked away. You might also need to help in clearing out rooms for displaying more items.

Do Get Out of the Way on Sale Day
On the day of the sale, you might want to leave the premises. The thing is, you really might not want to be around to hear all the comments being said about items that you hold close to your heart. Strangers can seem nonchalant as they walk around your home. On day two of the sale, items will usually be discounted around twenty-five per cent and then half off on day three other than the items that are specifically not meant to have discounts. You will also spare yourself all the heartache and sentiment that comes with watching your stuff get sold.

Do Keep the Valuables Locked Up!
Make sure that the items your family wants to keep is under lock and key. Ensure that there is a list of items that everyone is aware of for the ones you do not wish to sell. This is the best way to ensure that your items remain safe and secure and are not included in the contract of sales. You should receive an itemized items listed for sale before and after the sale. This way, you can keep track of which items got sold and which did not. A good specialist will be able to get top dollar for your items especially if they have a list of interested collectors to call. This ensures better sales and better prices compared to newbie specialists that are new in the business.

 

Don’ts

Don’t Hire Non-Professionals
When it comes to hosting an estate sale, it is a good idea to hire a company with a longstanding background of successful sales. You can verify and check references and see testimonials about how well companies do in terms of estate sale management. You really won’t get top results with unprofessional people and this may cost you more in the long run. With a good company that has years of estate sale experience, you will probably be more than happy with the results.

Don’t Worry
The moment you hire an accredited estate sale company and sign a contract, put your worries to rest. As long as you did a background check and read their testimonies, you will probably have a good outcome no matter how many items you have for sale. Keep in mind that the specialist will probably clean your items and price them as well. Remember that older items do not necessarily mean they are more valuable. The true guide to an item’s value is its authenticity. Your specialist will be able to tap into their resources to help determine the value of your items. Remember that you are in good hands with a specialist who knows what they are doing.

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