Estate Sales Contract
Estate Sales News wants you to have every available resource and here is a check list for an estate sale contract between you and the estate sale company.
The contract should lay out the following in clear language.
- Name of the estate sales company
- Your name (you’re hiring the liquidator)
- Date of the contract
- Address where the sale is to take place
- Dates the sale is to be held and time
- Removal of items from sale after contract is signed
- Will seller be charged for removal of items before sale and how much
- Cancellation of sale clause
- Liability insurance for estate sale company
- Homeowners insurance policy
- Utilities – electric and plumbing working, heat and/or air conditioning
- Party responsible for advertising costs
- Who is responsible obtaining and paying for permits (i.e. signs, sale etc.)
- Cost of the sale – commission, fee or both, make sure it is explicit
- How the net proceeds of the sale will be paid out, i.e cash or check.
- When will the seller receive the net proceeds
- Payout for sale is end of each day or end of sale
- Any items to be excluded from sale
- Who is responsible for the clean out after the sale is concluded
- Does the liquidator provide a written account of items sold
- Any additional costs for specialists i.e. appraisers
All of these items should be covered in the contract for your protection and the estate sales company and to prevent misunderstandings during the liquidation process.