How and When Should an Estate Be Liquidated
- Posted on 18th April 2023
- in estate liquidators
- by Alan
How Estate Sales Work?
Estate sales are a way to liquidate a whole house or property. They are typically necessary when downsizing, inheriting property, or moving. Estate sales are often held on site at the property and can include some or all of the belongings. Professional estate liquidation dealers can plan and implement the entire process.
When is it necessary to liquidate a whole house or property? Oftentimes selling a few pieces at once is enough, but in instances of downsizing or inheritance, having an estate sale is best. Many people also plan a full property liquidation when moving, after retaining their personal belongings, furniture and other items are sold along with the property. Thought it might seem overwhelming in any instance, professional estate liquidation dealers will plan and implement the entire process.
The sale is held onsite at the property like an auction, and may include some or all of the belongings. Most often, all of the belongings are included, as well as the property itself though sometimes the house is not sold and left to keep or sell at a later date.
Estate liquidation sales can be difficult for family to navigate for many reasons, so here are some tips to help the planning run more smoothly.
Here are some tips to help the planning process run more smoothly:
# 1. Ask for recommendations from family and friends, or consult with an estate attorney for suggestions of reputable liquidation dealers.
# 2. Verify that the selected appraisal company is listed with major appraisal societies, such as the American Society of Appraisers, the Appraisers Association of America, and the International Society of Appraisers. This can provide reassurance of their knowledge and expertise.
# 3. Understand the details, including the normal fee for the liquidator, which is typically 35 to 40 percent of the sale proceeds. Ensure that your dealer is providing you with the best services by requesting a detailed explanation of their pricing, marketing, and during and after sale methods.
# 4. Keep in mind that estate sales are often a buyer’s market nowadays due to a weak economy and aging population. Once highly sought-after antiques may be less valuable now, but a professional dealer will know how to get the most profit from the items and advertise them to attract potential buyers.
# 5. We recommend that family members do not attend the sale. Some buyers can be insensitive, and the process can be emotional. Moreover, family members may unintentionally say something that could deter buyers from making bids.
Although estate sales can be time-consuming, working with an experienced dealer can help ensure a successful sale. If you need advice on or assistance with estate liquidation in Florida, contact us for more information.