What is an Estate Sale and how does is work?
What is an Esate Sale?
An estate sale, or a tag sale, is designed to set up the sale of your own or a loved one’s possessions in an orderly fashion. It’s much more than a yard sale, as everything is marked with a price tag and is up for grabs. So, what does “estate sale” mean? Quite literally, it means the sale of someone’s entire estate.
Why Have an Estate Sale?
Estate sales occur for several reasons. Often, the estate’s previous inhabitant passed away, and the family members who inherited the estate perform an estate liquidation on the property.
However, estate sales can take place for several other reasons. Maybe the home’s inhabitants are moving because of health reasons, a job change, or a divorce.
Simply put, an estate sale happens when someone needs the home’s assets to be sold or otherwise liquidated.
How an Estate Sales works
So, how does an estate sale work? First, X Estate Sales LLC will be the organizer separates items into categories and appraises them based on their market value. Then, a few days before the sale, a team member will place price tags on each item. On the estate sale day, a team member takes a final walk through the home before opening the doors to buyers.
If there’s a line, buyers are allowed in on a first-come, first-served basis. Sometimes we use a number system, with buyers receiving numbers that match their place in line. Throughout the sale, shoppers are allowed to walk freely about the home, examining each marked item. As shoppers snag them and pay on their way out.
Shoppers can pay for their purchases with cash, credit cards, or debit cards. The ability for shoppers to pay with credit cards can often spur the purchase of high-end items. X Estate Sales LLC decides which forms of payment it accepts.
During the estate sale, X Estate Sales LLC ensures the sale goes smoothly by managing the traffic flow and resolving pricing issues. Be aware that most Estate Sales don’t allow any family members to be present on the estate sale day.
This is because it can be hard to watch strangers poke through your own or your loved one’s belongings. However, if you want to maintain access to your home throughout, we will allow for family member access.
What is for sale?
is everything for sale?
Typically, yes. Sometimes, the family may keep a few favorite pieces. If a realtor has put the house on the market, the new owners may want certain items, and they’ll list those things in the contract.
Otherwise, everything has a price tag with a marked price. This is why it’s sometimes called a tag sale.
types of estate sale merchandise
Estate sales are often overflowing with furniture, home furnishings, and assorted household items. Buyers may also discover artwork and fine jewelry. Antique dealers and private collectors flock to estate sales in search of antiques and collectibles from varied eras. Power and hand tools, automotive items, and specialty items are also popular.