Category Archives: Estate Sale Contracts
Many people moving, downsizing, or selling off a family home, fail to realize that once you have signed an estate sale contract it is binding just like any other contract. You have committed to an estate sale company and they have committed with you. For this reason it is important to you as a seller that you understand the contract and ask any questions. Do not feel hesitant or intimidated to say I don’t understand this clause. The estate liquidator wants a clear understanding between you both and a good working relationship.
Estate sale companies are discovering (especially in packed homes) that sellers are coming in after they begin their setup, and remove items they hadn’t seen in years. This is not the way it works and most estate liquidators have a clause in their estate sale contract that says they may charge you a full commission on any items removed.
EstateSalesNews.com has written about estate sale contracts in the past, but there are topics that deserve review.
One of them is the final payout to sellers of the net proceeds. Every estate sale contract should have a paragraph that addresses the specifics of how and when you, as a seller, will receive your net proceeds. It should lay out either the number of days (and this should be business days – excluding weekends and holidays preferably) or weeks, but certainly within 30 days of the conclusion of the sale.
Each estate sale company has a process they go through, however, 30 days should be the maximum and if you have a contract that is not specific, do not sign it. You will not have any guarantee of when or even if you will be paid. Estate sale companies that have good business ethics (99.9%) want you to know when you will be paid. They also want you to know how your will receive your proceeds, either by check, cashiers check, or in cash. When you review the contract with your prospective estate sale company look for the payout clause and ask questions if you have any. Estate sale companies want to have a good working relationship with you as a client. It benefits both of you.
The majority of estate sale companies in the United State (99.9%) care about the public’s welfare and any event that casts a shadow for this service industry becomes a concern. Estate liquidators deeply care how this affects clients and abide by unwritten code of ethics based on their personal lives and how they do business. They are honest, hardworking people who have chosen this industry to make their living in and they want legal justice for a client from a dishonest company.
Most estate sale companies pay within days or a week of the end of the sale. Be sure if you are a seller that your estate sale contract clearly states when payment is due and don’t hesitate to discuss with your estate sale company. They want you to feel trust and confidence in them.
We are not discussing minor complaints that are primarily poor communication or unrealistic expectations about items not selling for what a seller wanted.
Estate Sales News will be taking time off starting tomorrow to share the Christmas holiday with our family until next Monday.
We wanted to take a look back at our most requested articles and information. This information is provided through our analytics. Please click on the link to go to the articles that relate to these topics.
Almost two years ago actor Lance Bass while on Cupcake Wars announced his new website, famousyardsale.com. Estate Sales News wrote an article about this new concept and up until three weeks ago we had it in our archives. Unfortunately the NSYNC stars’ site was removed months ago and so we decided to remove this article due to the large number of people searching and not finding any viable information.
We value our search engine visibility, but our mission isn’t to collect clicks on Google, Yahoo, Bing, AOL, or any other search engine. Our goal is to provide you with useful information.
Searching on the internet is always a great way to find information, but you have to consider the sources you come across that offer information including estate sale information.