Tag Archives: sellers

Estate Sales Help For 2017

EstateSalesNews.com for 2017 has offered estate sales help for almost four years now.

We have covered almost any topic you could think of.

As we enter the winter season for much of the country let’s do a general review.

Sellers – How to choose a estate liquidator, do your own due diligence, what to expect and what not to expect, estate sale contracts. Over 100 topics to think about and consider as a seller.

Buyers- Buyers etiquette, where to find estate sales, how to enter an estate sale.  Having an estate sale kit and what to bring to an estate sale, and how to negotiate to with estate liquidators in an unoffensive and successful way.

Estate sale companies – What to include in an estate sale contract, how to work with sellers that don’t understand the liquidation process. Where to advertise your estate sales. Using social media to be found and get your message out. Working and networking with other liquidators and appraisers. Where to list your estate sales. Working with a website.

We have also covered estate sales of the rich and famous.

All this information is in our archives along with videos and is free to assist you.

Our goal is and has been to educate and inform you without cost and provide answers and solutions. Liquidating personal property is a stressful experience whether you are downsizing or selling off a loved ones belongings.

Estate sale companies wear many hats and the experienced companies that have great reputations understand what is required for success for all parties.

We hope that as the number one internet source for estate sale information we provide you with the estate sale help you need. We no longer liquidate estates, but we use our twenty plus years of experience to hopefully guide you in the liquidation process.

We welcome your thoughts, comments and suggestions. Please email us at carol@estatesalesnews.com. We will respond as soon as possible.

 

Selling Before The Estate Sale Can Cost Sellers Commission

Selling before an estate sale can cost sellers a commission.

Sellers, understand that when you sign an estate sale contract you have signed and agreed to the terms in the contract. It is just like any other legal document.

Have signed a contract with an estate sale company? If your home is for sale and your buyers want to buy any of the contents this should be done through the estate sale company. 99% of estate sale contracts include a clause that specifies that any items not excluded from the sale prior to signing the contract will be subject to the commission amount charged at the sale.

Estate sale companies do this as a business. They make their living and pay their bills through this.

Sellers, you leave yourself open to going to court if you start pre-selling or withdrawing items after signing the contract. Estate liquidators determine whether to accept a sale based on what will be sold by them.

Realtors should not encourage sellers to buy without the estate sale company either. The Realtors also cannot and should not receive a commission for this. They can only be paid by their Brokers.

Sellers you should also not ask for a reduced commission. If you want to sell to your buyers prior to the sale with a signed contract expect to pay a commission.

Sellers Protect yourself from legal action and respect the estate sale company.

Telling The Seller’s Story Draws Audiences For Estate Sales

Telling the sellers story of an estate sale draws audiences for estate sales.

Understanding who the sellers were, why they collected, what they did, and where they shopped is insightful. The sellers story in estate sales provides provenance to what is for sale.

Here is a partial story about a sale taking place this week in Los Angeles, CA starting on Wed. July, 27 by Again L.A. Estate Sales. “Huge USC Exec Estate – Mid Century, 70s, Toys, Tools, Hoarder Sale”.

“This is the estate of an incredibly interesting couple – both were incredibly dynamic individuals! Leonard Wines, hereafter referred to as the Mister -was a career University of Southern California figure who began his USC career as Coordinator of Communications and then ultimately Director of Pubic Reltations. He took an early retirement in the eighties and dived right into the world of computers…becoming a product manager with Data Desk International and a faculty member with the annual San Francisco Macworld Exposition. His Missus – Clara Vines was an equally dynamic individual! Clara spent the 1950s working the with State Department serving through the Middle East and Asia before marrying her lifetime partner and raising two sons. Clara loved the arts and being an artist at heart – her greatest love was working with her hands creating  many wonderful pieces of pottery, sculpture, jewelry, textiles, and more! The couple loved music and acquired a large collection of jazz records and literally every room on the property was wired for sound. Their property features a large garden area filled with plants and it must have been quite the retreat in the past!

This is a wonderful example before a list of the major contents that let’s buyers know what and why this home is so filled. Here is a link to this sale to read more.

Many estate sale companies write these stories opening life’s journey.

Estate Sale contracts – For sellers and estate sales companies

sample contractEstate Sales News is receiving a lot of feed back on estate sales contracts from sellers and estate sales companies so we would like to address the most important issues pertaining to both the perspective seller and the estate sale company.

 

 

 

Let’s start with the perspective seller:

  • Once you have chosen an estate liquidator make sure you have a written contract.
  • It should be specific about the commission or fees.
  • Date of the sale and how and when you will be paid.
  • It should spell out exactly when you will owe a commission. Do not expect an estate sale company to agree to conduct a sale after they have photographed and  started their work without charging you a commission if you pre-sell or withdraw items after the contract is signed and before the sale. Like any other business they have started to work for you and advertise. It is your obligation as a seller to either sell or withdraw items from the sale prior to the signing of a contract. Then the estate sale company has an opportunity to decide whether the contents left will warrant their accepting the sale and they can advertise accordingly. Most estate sale companies will include a clause that says once you sign if anything is removed or sold by you then you will owe a commission on those items.
  • If you are truly not sure about a few (“key word being few”) items then include them on an addendum.
  • An estate sale contract is like any other contract. It is an agreement to perform for both parties.
  • If you are selling a property and the new purchasers are interested, you should inform the estate sale company prior to signing a contract and decide who would best serve your interest. Emotions can sometimes be costly so it may be financially better to let an estate liquidator negotiate for you.

The estate sale company:

  • Your contract with sellers should include several things, including the commission or fees to be charged, dates of sale, what happens when items or sold or removed after the signing of the contract, a cancellation clause, how you will pay the seller and account for items sold, if you charge the seller for advertising or if the seller is paying for the advertising.
  • You should also set out your ground rules. Will you conduct the sale if the seller is present, what about the cleanout, any additional expenses, and very important if the seller sells or withdraws items after the signing of the contract will they be charged and how much.
  • Again your contract is an agreement for performance and it should state what you will do should the seller not abide by the signed contract, but also what you are obligated to do for the seller.

If you click on the contract image you will see a partial contract example. It is simplistic and may not be copied for use. It is strictly for information purposes.

Estate Sales News welcomes your questions and you can write to carol@estatesalesnews.com

One caveat, I am not an attorney so the only advice I will give pertains to ethics and expectations not the legalities.