Estate sales are not necessarily like garage sales, though the idea is somewhat the same but in a larger scale. Estate sales happen for several reasons. It can be that the owner is leaving the country or town or an unfortunate event happened like a divorce or a death in the family. Oftentimes people who want to rid of some items in their estate would need help from organizers. If you want to sell your estate, plan for it well by considering these tips:
- Before hiring a professional organizer to help you with the estate sale, you should first make a list of inventory of the things you want to sell from your home. You should include valuable items that are in your possession that includes jewelries, artwork and good furniture. It would really depend on which item in your home you want to sell so the list will determine for you which items to keep. You should also make a list for important documents like real estate titles or deeds, stocks, insurance papers and stocks. Your real estate title is only necessary if you need to sell your property along with the items inside it.
- Scout around for a professional estate organizer to help you sell your items if it is too tedious for you to do so. A professional organizer can also do the task for you if you have no spare time, you already moved to a distant location or if seeing the items at home is too emotional for you especially if unfortunate incidents happened in your estate. The organizer can help you separate the items you can sell, throw away or donate to charity.
- Before hiring the professional estate organizer, do a little research of some of the organizers you found. Ask around for referrals through friends or relatives. Have a shortlist of your preferred estate organizers and take the time to interview them. By interviewing, you will learn if he is capable of handling the event and you will feel how you connect with him. If he is working under a company, ask for the company’s profile and research for their records.
- Settle your agreement on profits and fees. The organizer usually takes a percentage of the gross sales so you should work out a percentage of your earnings as well. Fix a schedule or a timeline for the whole estate sale process. You should be asking for details on how the organizer will market the event.
- If you are quite uncertain about the company’s expertise on selling your valuables like jewelries, artwork and antiques, reserve the right to have independent appraisals. You can always pay for your own appraisals in the event that you are not satisfied with your hired company’s appraisals.
- Work out a deal with the estate organizers about the after-sales procedures. What would they do with the items that did not sell? Have them list an inventory of these items and make sure they give you the receipt for tax deduction.
- For the items that did not sell in the auction, you can sell them in any way you could. It can be online on eBay, a thrift store or a garage sale. Any way you can dispose of the remaining items of your estate will be workable as long as you do not have to spend for it.
Remember that the more valuable items included in your estate will usually take the form of auctions. The organizers that you will hire should be able to cope with the facilitating, appraising and inventory of your items. If you have managed to conduct a successful estate sale, you did not only manage to dispose of your unwanted items but you have earned something in return for them.