How and When Should an Estate Be Liquidated
How Estate Sales Work
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.
5 Tips For A Liquidation
1. Ask family and friends to recommend companies, if you cannot secure any then the estate attorney will often have a suggestion of a liquidation dealer they know of.
2. Find out if your selected appraisal company is listed with any major appraisal societies, such as the American Society of Appraisers, the Appraisers Association of America, and the International Society of Appraisers. These professional credentials can reassure you of their knowledge.
3. Know the details- the normal fee for the liquidator is 35 to 40 percent of the sale proceeds. Ensure that your dealer is giving you the best services by requesting a run-through of their process of pricing, marketing, and the during and after sale methods.
4. Due to the weaker economy and aging population, estate sales are often a buyer’s market nowadays. Once highly sought after antiques are less valuable now, but a professional dealer will know how to get the most profit from the items and advertise it so it is well attended.
5. We recommended that family doesn’t come to the sale. Some buyers can be insensitive, and it is an emotional process. Further, you might even say something that can hold off buyers from making bids.
Having a liquidation can be time consuming, but an experienced dealer will assist you and their knowledge is key to a successful sale. If you are looking for advice on or help with estate liquidation in Florida, contact us for information.