Getting Paid After An Estate Sale

CheckEvery estate liquidation company works differently and practices for paying sellers vary from company to company, community, and state. There is no right or wrong way.

Here are a few ways of paying out the net proceeds

 

  • Counting out the cash right after the end of the sale, taking any costs, fees, or commissions agreed to and remanding the net proceeds to the seller.
  • Taking 3- 30 days after the sale ends to let checks and/or credit cards process and payout and then giving the seller a check for the net proceeds.

There are no set rules about payout, however, it should be in your estate sale contract and if it isn’t a seller should be concerned. Every estate sale company works based on what works for them and you, but making sure you are in agreement before beginning the estate liquidation process is paramount.

Sellers should research the estate sale company you are considering on Google, Yext, Yellow Pages etc. as mentioned in other articles (September 23, 2013 for one) to ascertain that they do payout without problems. If you find reviews that indicate otherwise rethink your decision or ask them directly about what you have read before you sign a contract.

If your estate sale company does accept credit cards and/or checks they need time for them to process and pay you. You should also ask about whether a fee for the credit card is charged separately (generally they do, but some may have it factored into their commission or fee for the sale) and that should also be included in your estate sale contract.

Protection for sellers and estate sale companies is important to keep the estate liquidation process as smooth as possible without misunderstandings.

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