When a loved one moves into a residential care facility and cannot take their possessions with them, or they pass away, the task of clearing out their home may be overwhelming, especially if you are grieving. Hiring an estate sales company can relieve the stress and burden.
Before hiring an estate sales service, sit down with the company for a consultation to learn their process. Most companies will begin working on the estate at least five days before the sale. The professionals will properly clean and arrange items to appeal to buyers. They may contact known collectors about certain pieces in order to receive a higher price. You may want to choose a company that is fully licensed, insured, and certified in social media marketing to handle the task, like Lucky Rabbit Estate Sales.
Depending on the amount of belongings the estate is selling, the sale may last one to three or more days. By the end of the last day, the prices may be reduced in attempts to empty the house of these unsold items. The company will clean, host, and handle all financial transactions, while keeping you and the executor of the will or family attorney updated. You should receive itemized receipts, accounting spreadsheets, as well as a list of items sold and items donated at the end of the sale.
Prices vary between companies, however the average commission rate reported is between 10 and 25 percent of the sales. It is not unheard of the companies to charge 30 or 35 percent of the total sale, especially if the professional must do a great deal of decluttering and cleaning before holding the sale.
Choosing a company based on a lower commission rate may not be the best decision. Sometimes estate companies offer a variety of services from experts, like automobile or antiquities appraisers. The commission fees may be higher in order to employ these professionals, however the items appraised can bring in a significant amount of money for the estate.
You will want to look for credible and certified companies and appraisers. You can check the American Society of Appraisers or the International Society of Appraisers. Both organizations feature websites that host a database to make locating an estate sales professional in New York easier. Senior care directories can be another source of listings for companies.
The Better Business Bureau for New York lists ratings and reviews for companies throughout the city and state. Your family, friends, and neighbors may also offer suggestions for companies they have used in the past. You can check with your attorney, your deceased loved one’s attorney, or the executor of the will for recommendations.
Before you sign any contracts with an estate sales company, interview and conduct background research on the company. Ask them for a list of references and call those former clients. After following up, you can rest easy knowing your loved one’s estate is safely in the hands of a professional.
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