Tag Archives: estate sale company
Here is an updated checklist for estate sale contracts for estate sale companies and sellers.
We are not an attorney, but these items should be included and understood in the estate sale contract.
The estate sale contract should lay out in clear language.
- Name of the estate sales company
- Name of owner/s, heirs, or attorney
- Date of estate sale contract
- Address where the sale is to take place
- Dates the sale is to be held and time
- Dates the estate sale company will be given access to setup and price
- Any items excluded from sale on addendum when contract is signed
- Utilities – electric, plumbing, heating and air conditioning should be working
- Liability insurance for estate sale company
- Homeowner must have active homeowner insurance policy
- Ramifications of removal of items by sellers after contract is signed
- Fee or commission that will be charged if items removed or sold ahead by seller
- Cancellation clause of contract
- Party responsible for advertising and costs
- Who is responsible for obtaining and paying for any permits required
- Cost of sale, commission, fee, any additional sale related costs
- When seller will receive net proceeds and form of payment to be made
- Will seller receive written account of sold items and what it will or won’t include
- Who is responsible for the clean out when the estate sale is concluded
- If estate sale company cleans out any costs associated with clean out
- Any additional costs for appraisals or specific appraisals
- **If needed winter expenses and responsibility, i.e. plowing, shoveling, sand etc.
Visit the top of our front page for Choosing An Estate Sale Company.
Finding and hiring an estate sale company is becoming more involved as the number of estate sale companies continue to grow.
To find companies you can ask your attorney, ask your Realtor, look on estate sale company listing websites and look at estate sale companies who have memberships with estate sale associations and societies.
If you are asking a Realtor and they give you a recommendation ask them if they have any type of working relationship with them. Do they receive a referral fee? Your best interest is served when a real estate company refers you simply because they are familiar with your work and ethics and believe you can best handle the job for their clients.
If you are looking on estate sale listing websites, remember all these sites are paid by the companies on them and in most instances the listing company will provide several names of companies listed with them in your area. They do not have personal or direct knowledge of these companies.
Your attorney may be able to provide a recommendation based on previous experience with a liquidation company.
When you are trying to find an estate sale company, be sure to check for reviews online as well. Toss out the frivolous or silly ones (there are many of those) and be concerned with those who truly question business practices. If you are still interested in the estate sale company speak with them. Ask them about the review and what their side was.
Using several sources and your own research is the best way to find and hire an estate sale company.
Estate sale experience counts for education information.
Whether you are writing a blog or a newspaper article, providing information on estate sales from sources with estate sale experience is essential.
This also applies to estate sale advertising websites that offer tips or help and those that hire bloggers to write for them. Actual life experience as an estate sale liquidator is invaluable.
The more popular estate sales become, the more bloggers, reporters and other websites try to provide informative estate sale information to help them financially and increase their website ranking.
What is required to make the information useful and assist perspective sellers. Have you conducted an estate sale or been part of the estate liquidation business for some time?
Nothing can replace experience in the estate sale industry. Understanding the contents and requirements that should be included in estate sale contracts, what to look for and expect from an estate sale company are important to your financial bottom line.
Sellers need to understand how estate sales work. Knowledge about estate sale company advertising, security, entrance control and pricing. They also need to understand what to expect at the end of the sale including receiving their net proceeds. That will depend on what forms of payments estate sale companies accept.
There are a lot of articles that have been written about estate sales, but before you make any decisions based on these articles, ask yourself if there is any authentic estate sale experience by the author or company providing them.
Become a knowledgeable consumer and choose the information you use wisely. Your results will depend on what you know and understand.
How to choose or hire an estate sale company. Tips from a former estate liquidator. Experience counts.
Choosing an estate sale company (liquidator) is a decision made with careful consideration and knowledge. Here is a guide from Carol Madden of EstateSalesNews.com to common questions about choosing an estate sale company. These helpful tips are based upon her 25 years’ experience as an estate liquidator. Print them out for your easy reference!
Where do I find estate sale companies?
There are several ways to find estate sale companies. Online, there are four leading websites that list estate sale companies and their sales. They are EstateSale.com EstateSales.org, EstateSales.net and Estatesale.company. You can also ask your attorney, local realtor and/or friends about their experiences with companies with which they might have had estate sale dealings in the past.
What do I look for in an estate sale company?
Choosing an estate sale company is a process – here is a list of tips to follow.
- CHOOSE at least several estate sale companies (if possible) to contact that work in your area.
- CHECK the internet for any reviews on the companies you will be calling.
- CALL the estate companies: Ask them about their business experience, staff, and services they provide. Be sure to ask if they are insured and, in some states, licensed. You may also want to ask them about visiting their next sale and tell them you would like to speak with past clients. Print out and use our handy interview page at the end of this linked document (at right) to record your findings for each company.
- SCHEDULE appointments for face-to-face interviews only with companies you felt provided you with satisfactory answers during the phone interviews. Be sure to schedule the in-person interviews several hours apart or even on different days so they don’t overlap.
- SHOW the estate liquidator through the property. Point out any items that will not be included in the sale, and if you have any items where price is a concern, discuss it with them at that time.
- ASK them about their crowd control policy, pricing (how they research prices), credit card acceptance and any associated credit card fees, security, staffing, staging the property (when they would want to start and how long it would take), and what their current schedule of sales is. Additionally, ask how many days they would conduct your estate sale, whether they allow anyone (staff or otherwise) to buy before the sale starts (presale), whether they will be required to collect sales tax, obtain any necessary permits, and place advertising (where and when).
- INQUIRE as to commission or fee. What they charge is not as important as hiring a reputable, experienced estate sale company that will work to achieve the best results possible in current market conditions in your area and make the process as stress-free as possible.
- FIND OUT from the estate sale company how and when you will be paid and whether or not they provide clean out services (what do they charge) or do they have a company that will (again ask about the fee).
TAKE NOTES AND DON’T MAKE A DECISION UNTIL YOU HAVE MET AND TALKED TO ALL THE LIQUIDATORS WITH WHOM YOU HAVE APPOINTMENTS. Take time to review their answers to your questions and any notes you made about the estate liquidator (attitude, appearance, demeanor, apparent knowledge and any recommendations).
More helpful reading at EstateSalesNews.com:
Why an estate sale company cancels estate sale?
Sellers, these are reasons you need to know and understand.
A seller hires an estate sale company after performing their due diligence. You should have chosen a professional company that you can place your trust and confidence in.
Today, many sellers fail to have this confidence and trust in their estate sale company. Why did you hire them? Did you check their references, how they research and price items and what security they have.
Showing up the day or night before an estate sale to “check” how the estate sale company did is inappropriate and may have the result of an estate sale company cancelling the sale.
An estate sale company is working for your best interest. If you have chosen the company following the guidelines for hiring an estate sale company let them do their job for you.
When a seller displays distrust in an estate sale company before the sale starts this causes a concern to the estate liquidator.
Checking prices established by the estate sale company is in appropriate. If you are concerned about pricing this should be discussed before signing the estate sale contract. Have an item you have a bottom line price on. Speak with the estate sale company before signing their contract.
An estate sale company cannot work for mistrusting sellers.
Preventing theft at estate sales is important as more people attend the sale.
Estate liquidators are hiring off duty policemen for security and safety for their estate sales.
Estate sale companies can use this security to ensure orderly entrance into the estate sale as well as monitor those exiting. The off duty police officer may ask to see your receipt. He or she may also ask to look at the contents of your bags or boxes.
Estate sale staff are monitoring the personal property entrusted into their care. If staff see someone trying to steal or change a price tag, they will report this to the owner of the estate sale company and the security person.
Many estate sale companies that have caught thieves have taken to posting their photos on Facebook to warn others and hopefully prevent further theft attempts. They hope the embarrassment of their photo will succeed when viewed by the general public.
Estate sale companies can prosecute anyone caught stealing. Many use video cameras to monitor their sales.
Estate liquidators are now limiting coats and in many cases preventing pocket books from being brought into the estate sale. In Florida it is not uncommon to see yard signs that clearly say no large bags or purses.
Baby boomers are on the move in droves and estate sales are tied closely to real estate sales. Estate liquidators and Realtors should work together.
Your Estate Sales News Editor has been a Realtor and estate liquidator. Both professions work for the seller. Both parties should determine what will be in the best interest of the seller and compromises will need to be made.
Realtors like to have a seller declutter for best results. Eliminating personal property that can be distracting for a buyer.
The estate liquidator doesn’t want the seller to eliminate anything until they have walked through the property to see what can be sold.
Estate sale companies and Realtors best serve the seller when they work together. Sitting down for a conversation about the long term outcome for the seller is beneficial.