Whether you are inheriting a home or need to sell a loved one’s house quickly, an estate sales professional can help ensure that the estate can make a profit by selling items at the highest price possible. Most estate sales companies are affiliated with or employ certified appraisers to get an honest Fair Market Value for items or collections before an estate sale or auction. At the conclusion of the sale, the estate receives a check for the total minus commission and fees.
The process varies between companies, but most companies offer a free initial consultation to determine if their service is a right fit for the estate. Each piece is analyzed, documented, and researched to learn its Fair Market Value price. Some companies, like J.D. Llama Estate Sales and Appraisals, keep appraisers on staff to know the worth of collections and antiques.
The estate sales company arranges for the advertising and marketing through social media and online estate sales websites. Many companies, like Morning Star Estate Sales, advertise upcoming sales on their website for frequent buyers. They tend to accept most forms of payment to increase the likelihood of a buyer making an impulse purchase.
The estate sales professionals handle the cleaning, setting up, and running of the sale, so you do not need to be present. You (and your attorney, if required) will receive accounting reports and transaction receipts with itemized inventory lists at the conclusion of the sale. If the company finds any personal items like hidden money, photographs, or personal papers, they will set those aside for you as not to be sold.
After the sale concludes, the estate will receive a check minus the commission. Depending on the company and the type of sale held as well as the size of the estate, you can expect a check in less than a month.
Estate sales companies are paid on commission from the net proceeds of the sale. You may pay a higher commission rate of 30 to 35 percent for certified appraisers and full service companies. The average commission fee is 10 to 25 percent for estate liquidators.
Your friends, family, neighbors, and coworkers may have suggestions for you regarding local estate sales companies. Since companies advertise their sales and auctions online, check estate sales websites and senior care directories for businesses. Once you find a local sale, consider attending to get an idea of that particular company’s process.
The Better Business Bureau (BBB) of Western Pennsylvania lists the accreditation status for estate sales professionals as well as ratings and reviews. The site currently displays 14 estate sales businesses with three listed as BBB accredited within a 100 mile radius of Pittsburgh.
You can also find certified appraisers through the American Society of Appraisers and the International Society of Appraisers. Each organization features a searchable database to make finding a professional in the United States and Canada easier.
Find assisted living in Pittsburgh near you.