An estate sales professional can help you sort and find new homes for a loved one’s possessions after they have passed on or moved into a residential care facility. A professional may be called to the home if the family members do not want the remaining items or do not have space in their own homes. An estate sales company can arrange for collection viewings, sales, and auctions as well as charitable donations with the remaining items. Your loved one’s estate will receive a check after the commission and fees are deducted and all estate debt is paid.
An estate sales company does more than have a “yard sale”. The professionals inspect, clean, and assign Fair Market Value prices to the items to sell for a higher price. The estate sales team, like those found at Peerless Estate Sales, can arrange displays with your items using display cases, professional tablecloths and skirting, and other supplies. The goal is to make your items appear alluring to potential buyers. Peerless Estate Sales and other companies keep a database of collectors and want to showcase your pieces to the best of their ability.
The company will walk guests through the home and ring up transactions. You do not need to be present during the sale and sales can last one to four days, or longer for large estates. You and your attorney will be kept updated during the sale. After the sale concludes, you should receive an itemized statement for accounting purposes. Unsold items can be donated and the estate sales company may provide you with a list of organizations.
It is typical practice for an estate sales company to not require any money upfront, but work on a commission-only basis. This fee structure ensures the company will work hard to sell at the highest price possible. The average commission rate is 10 to 25 percent, according to Antique HQ, although it is not unheard of to pay closer to 35 percent. Estates requiring heavy cleaning before the sale may be charged a higher rate.
Check with the Better Business Bureau serving the Northwest area for listings of estate sales companies. These listings include ratings and reviews, so you can get an idea of the type of service the company provides as well as how they handle any complaints. The site currently lists 27 organizations within 50 miles of Portland. Online senior care directories may provide a listing with reviews written by clients.
The American Society of Appraisers and the International Society of Appraisers keep a listing of certified professionals. The search tools are user friendly and allow you to search throughout Oregon, across the United States, and Canada.
Don’t forget to ask your family and friends for referrals. Even your family attorney may have recommendations for you based on past clients and can review any paperwork, including contracts, the estate sales company offers.
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