What is an Estate Sale?
The term “Estate Sale” is generally known in today’s society, but I feel a more in-depth look at what they really are is important. Wikipedia defines it as “An estate sale or estate liquidation is a sale or auction to dispose of a substantial portion of the materials owned by a person who is recently deceased or who must dispose of his or her personal property to facilitate a move.” I generally agree with this definition, but let’s take a closer look.Yes, an estate sale is used to basically liquidate all of a homes contents when certain life events warrant it. Many people I have assisted over the years have thought the word “estate” meant its needs to be a home of high value like a mansion. Part of the definition of the word “estate” is all the money and property owned by a particular person, especially at death. Therefore, the monetary value of the home and the items it contains is irrelevant. If the home is full of a lot of “stuff” including what is in the kitchen and the garage, there is a decent chance of having an estate sale depending on the items themselves.My definition of an estate sale is a sale that is ran by a professional estate sale company. I have met with and spoken to many families that feel they would like to have their own estate sale. These are the true do-it-yourselfers, and I applaud their efforts but let’s get real, it’s a garage sale that you are calling an estate sale. The reason I say this is because when people do estate sales themselves, they make equivalent to what a garage sale would have made and just spent a month of their lives doing so. The end result is that you still have a full house that you have sold the more valuable items and will have to pay people to come and remove everything else. Using a professional estate sale company would have saved you the time and energy, the house would have been completely emptied, and you would have profited much more by way of item sales.Now that we have discussed the meaning, let’s describe the sequence. An estate sale company will meet you at the home to do a tour and assess the items in the home. Once you have agreed to use a certain company, the company will handle all marketing, setup, cleanup, and removal of necessary items. Marketing is done through various online websites, emailing customers on their email lists, and street signs. The company will set up tables in the home and price items in groups as it is impossible to price each item. Estate sales typically take place over a 2-3 day period, say, Friday through Sunday. After the estate sale, the company will remove all of the remaining items and I would ensure that you are paid within 7-14 days after the sale.It is important to thoroughly review the contract when meeting with companies, and if you need help, I am here to answer your questions. You want to ensure that the house will be completely cleared at the end of the sale, and that it is included in your contract. That explains the estate sale in a nutshell and as always feel free to email or contact us at Blue Sky Estate Services at 714-913-6033 with any questions you may have.