After losing a loved one, the last thing you probably want to do is go through his or her belongings. Many families find this extremely stressful because they are still mourning and don’t want to think about getting rid of their loved one’s things. Plus, the process can seem overwhelming.
In 2014, LA Times stated the average person possessed around 300,000 different items. If your loved one was a collector or liked to hang on to items, you may have more things to sort. Hiring an estate sales company will lessen your stress since they handle all the work for you. All you need to do is remove the items you and your family want to keep. The company will do the rest including sorting, setting up the sale, dealing with remaining items, and donations for remaining items.
The first piece of advice most estate sales companies will tell you is not to get rid of anything until they have a chance to see it. There may be some valuable items that you may think are not worth much, but in reality could be a big seller. An estate sales professional can help you make the most in an estate sale because they know the market and know how to research things that could potentially be worth money.
JPS Estate Liquidation, LLC posted an article on the process. Initially, you will meet with the estate sales company for a consultation to review items and discuss procedures. The company will then sort, set-up, stage, and price items. The company will use advertising to drive traffic to your sale through email, social media, newspaper, and more. All of this preparation takes around 5-10 days. The estate sale usually lasts three days.
During your sale, the estate sale staff will be on hand to help shoppers, answer questions, facilitate transactions, and protect the home. They may auction off larger items. Most estate sales companies can process credit card payments to increase sales. You can attend the sale, but several estate sales companies feel it is better if you are not there because of the mixed emotions.
After the sale, the company will tally the items sold in a written statement along with a check for the proceeds of the sale, typically 2-3 days after the sale.
For the remaining items, the company can arrange for those to go to auction or donate to a local charity.
Some companies will charge for the initial evaluation while others do not charge or give you an hour for free. Sale fees do vary by company. The average commission runs at 35-40 percent of the sale proceeds. If your loved one’s home needs a lot of cleaning and work, the prices may be higher. Some companies may charge for the cleaning up of remaining items. Be sure to know all the fees upfront.
Ask your family attorney for recommendations on an estate sales company. Online reviews can also be helpful. Las Vegas Estate Sales posted an article about finding a reputable estate sales company.
You can also search the Southern Nevada Better Business Bureau website for BBB-accredited businesses. Look for a company that has either the American Society of Appraisers or International Society of Appraisers Certification. When interviewing multiple companies, ask for a written contract with all fees listed.
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