Key Issues to Consider While Liquidating Your Property or Estate
There are a lot of factors in play when you are selling a house and liquidating your property, not the least of which is who will do the liquidation. Though you may be tempted to try to hold a garage sale on your own, once you begin you will quickly realize that this task is time consuming, frustrating and that you have a lot more stuff than you ever imagined. Many people start the process and quickly abandon it simply due to the sheer volume of items that they have to sort through. Another reason not to do it yourself is because you may unwittingly throw out something that to you looks like junk, but a liquidator knows has value.
When you turn to an estate liquidator there are factors you should consider.
Before Contracting with an Estate Liquidator
Before contracting with an estate liquidator there are issues that you should consider and prepare for.
- If you are selling vehicles or any titled means of transportation you should be sure you have the title and registration and are legally able to sell those items
- Be sure you have all of your paperwork in order such as a will or Power of Attorney. The liquidator will need this to verify that you can sell the goods on the property and enter into the contract.
- If this a family home, be sure that everyone in the family agrees to use the liquidator and by all means, get it in writing from each of them.
- Ensure the liquidator can hold the estate sale in the time frame you need. Many are booked months in advance which may not work if you have a sales contract on the house.
- Be sure the liquidator you choose is reputable, bonded and insured. Reputable & professional liquidators will require that your homeowner’s insurance is up to date. They will have employees on your property and you may share any liability if they get injured.
- Be sure you include in the contract what the liquidator is to do with any items that are unsold at the end of the sale.
- If you want the property ‘broom clean” and ready to sell at the end of the sale, make that is in the contract.
- By all means contact multiple companies and meet in person with each of them to show you the house and its contents. No one can give you a valid quote of even their commission if they haven’t seen what it is they are selling.