Estate Sales Costs

Estate Sales CostsEvery estate sales company has a different method for being compensated.

Some companies will charge a straight commission based on the gross amount of sales. Other companies may charge a flat fee regardless of the gross proceeds of sale. Another company may charge a minimum (the least amount of money they are to be paid regardless of the proceeds of the sale) plus a commission. Some companies may even charge by the hour. Depending on the company and where the company is located depends on how they charge.

Here are some questions you may consider asking during a estate sale company interview. a

  • Who pays for advertising, permits, licenses (if needed) etc.?
  • Are there any upfront costs for you?
  • How will you receive your net proceeds of the sale?
  • Do they settle up at the end of every day and pay you cash, or do they wait until after the sale and issue you a check? Especially if they accept checks or charge cards.
  • If the company excepts charge cards who pays the fee and how much?

Many companies also will provide you with an accounting of the sale. Some will show only items sold over a certain dollar amount, while others might offer you a spread sheet showing everything sold right down to a 50 cent item. And some companies do not do any accounting.

In many states because of sales tax that must be collected some companies will record the sales on a laptop at the checkout area. This might provide you with a record of items sold. 

How an estate sales company handles the proceeds for you at the conclusion of the sale and how you feel about the final payout method should be what is most comfortable for you the consumer.

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