Tag Archives: How an estate sale works

Why Have An Estate Sale Contract? To Protect Sellers & Estate Sale Companies

Estate Sales NewsThousands of estate sales are taking place each week and now that winter is over and spring has arrived the number of sales will continue to increase.

When you are interviewing either as a perspective seller or as an estate sale company this is a business venture and as with all businesses a contract must be in place to set out in writing the terms, responsibilities, and consequences of the estate sale.

This is protection for both parties. It is not just about a date, address, or commission/fee. It is about who is responsible for utilities (seller), who prices and stages the contents being sold (the estate sale company), who advertises and pays for the ads (usually the estate sale company), which party will get the permit if needed, how will the sale be paid out (daily, at the end of the last day, within a precise time period after the sale), will the seller be paid by cash or cheque, and the list of what must be in the contract goes on. Please use our search feature to read other articles about the estate sale contract.

Each estate liquidator has their own contract that should delineate all terms including the consequences of removing items from a sale that were to be included (it is common practice for a seller to be charged the commission/fee for items removed once the contract is signed and was not excluded), but this is up to each liquidator. Sellers should make sure they know who is responsible for the clean out of the property after the sale, how it will be done, will there be additional costs or fees for that service and when it will be done.

It is the responsibility of the estate sale company to review the entire contract with the seller before signage. It is the obligation of the seller to ask the estate sale company any questions they may have and understand all the terms and responsibilities. If you aren’t sure, ask for a night to review it, seek legal advice, but once the decision is made and the contract is signed, remember this is business, especially for the estate sale company. They pay mortgages, utilities, staff, etc.

Estate sale companies work hard to achieve the best results possible. It is in the interest of both parties. The better the financial results, the better payout for seller and the better commission for the estate liquidator. They cannot guarantee results or control weather or economic conditions. Understanding what cannot be controlled is also key to a successful working business relationship.

You Hired An Estate Sale Company – What Will Happen Now? – Part 5

Estate Sale signYesterdays’ discussion you arrived at you decision for an estate sale company. After letting them they are coming back to see you, sign the contract, and start working on your estate sale. Now what should you expect? Let’s list it out.

  1. The dates and times for the estate sale have been chosen and agreed to by the estate sale company and you.
  2. The estate sale liquidator should take a least a few preliminary photos of some of the items for sale and they should be staged, not just in a heap, or boxes. Clearing off an area to photograph these items or a piece of furniture is fairly simple and very important to start generating interest. It’s also the sign of a professional estate liquidator.
  3. Days have also been agreed to allow the estate liquidator to start preparing the sale ( this includes, sorting, possible cleaning or polishing of items in the sale, researching any items of questionable value).
  4. One of the most important tasks that will take place is the advertising of the sale. Listing your estate sale on websites such as EstateSales.Net, Estatesale.com, EstateSales.org or Estatesale.company. Some companies list on craigs list, however, this site has become more about freebies and your quality buyers will come from other sources.
  5. Social media work begins. Getting the word out on Facebook, Twitter, Google+, reddit, and Pinterest is vital.
  6. As the sale preparations and staging continues, more and more photos should be added to the various websites including the estate sale companys’ website.
  7. Sellers, please remember after doing your due diligence you have chosen a professional estate sale company, you have explained (prior to signing the estate sale contract) any questions you had about items that might not be included in the sale and also prices. Now that the work has begun do not micromanage the estate sale. To do so defeats the reason you hired the professional estate sale company.
  8. Remember sellers, do not remove any items that you said would be included in the sale. You may be subject to a commission of the price the item would have brought.
  9. This is important for sellers and the estate sale company – sellers the estate sale company knows you are somewhat stressed and concerned, but your being at the sale can make it difficult on all parties involved including buyers. If you must take a peak before the sale begins, wish the liquidator and staff good luck, be available by phone and “leave”. Believe in your choice and trust that you made a good decision.
  10. Ask the estate liquidator to call you at the end of the first day to let you know how the attendance was and how the sale went. They may or may not have an amount to give you. Each estate sale company works differently.

Now it’s time to go out for lunch, take in a movie and let your estate sale company work for you!

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