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Estate Liquidation - Deciding How to Sell

 

Often I hear people say how easy it would be to just take all of the estate items to a consignment store. You can make that your game plan, however, does that meet all of your goals?

How to Sell the inventory of the Estate. Let’s break this section down into the Primary Buyers, Secondary Specialty buyers and third are the buyers looking for deals (items that your 1st and 2nd group of buyers passed on). Think of both the positives and negatives for each option.

 

PRIVATE BUYERS

 

  • Private sales allows for disposal of personal property quickly and with less expense and risk than holding a sale open to the public.

 

  • Dealers and private buyers know the resale and collectible value of items and are willing to pay more that the general public.

 

  • Liability and the possibility of accident, breakage, and theft are lower by inviting professional buyers and dealers.

 

  • Unadvertised private sales reduce the risk of burglary or vandalism of the vacant residence.

 

  • Dealers & private buyers buy multiple items and items in lots.

 

  • Dealers & private buyers show more respect for the property.

 

SPECIALITY BUYERS

  • Consider using one of the options of consignment of specialty items with someone experienced with on-line auctions.
  • Consider putting the items up for auction yourself. At least be sure you know what the value of the items is before you make any decision. Again, research is time well invested.

 

PUBLIC SALES

 

 

  • Holding public sales incurs additional time, labor, and expense.

 

  • The public at large is generally looking for bargains.

 

  • Liability and the possibility of accident, breakage, and theft are increased with public sales.

 

  • Advertised public sales increase the risk of burglary or vandalism of the vacant residence.

 

  • While buyers from the general public may buy multiple items, they often purchase only one or two items at a time.

 

  • Many estate sale shoppers enjoy haggling.

 

  • Public buyers leave the residence in a mess.

 

  • Classified advertising is more costly than you would think.

 

Knowing and understanding your goals is paramount. Getting the house on the market for sale is the ultimate goal. Another goal is to maximize the value of a personal estate while minimizing the efforts of the family, executor or conservator.

 You may be prepared to undertake this project and manage all aspects of Liquidation of the Estate. Options – Oh My! offers multiple services to assist you in this type of project. I can help you with just about anything that requires personal or business assistance such as personal organization, photo documentation of real estate or personal items, witnessing legal documents, shipping or storage of items, local research of any type. The benefit of the services I offer is you can contract for any above on a part –time basis. I have a “What ever it takes” attitude to satisfy the needs of you the client with grace and sensitivity to the loss of a precious family member or friend. I subscribe to a “win-win” attitude for all parties involved while honoring the property and the family members and their memories.

You are considering all your options on How To Sell, so Google “Estate Liquidation Lexington KY”. Visit the sites of professionals Estate Liquidation experts. Whether you do it yourself or hire the work done be sure to take into account what your time is worth.

 

Next Week:

Donating Unsold Items & Recording Sales and Expenses

 

 

Comment balloon 1 commentBeth Richardson • August 06 2008 06:20AM

Comments

  A lot of this depends upon what the sellers want from the sale...OR if they just want it gone...AND as we learned recently...donating is not what it was before the gas crisis...can't do when YOU want...it is when THEY schedule it...if at all.

Posted by Sally K. & David L. Hanson, WI Realtors - Luxury - Divorce (EXP Realty 414-525-0563) about 10 years ago

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