What is an Estate Sale and how does is work?
What is an Esate Sale?
An estate sale, or tag sale, is a systematic way to sell your own or a family member's belongings. It differs from a yard sale in that all items are priced and sold. So, what defines an estate sale? In essence, it's the sale of a person's complete 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, 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 day of the estate sale, a team member takes a final walk through the home before opening the doors to buyers. Buyers are admitted on a first-come, first-served basis if a line forms. We sometimes use a numbering system to keep track of each buyer's place in line. Throughout the sale, shoppers are free to browse the home and examine each item. As shoppers select items, they pay on their way out. Shoppers have multiple payment options: cash, credit cards, or debit cards. Credit card payments frequently lead to the sale of high-end items. X Estate Sales LLC chooses the accepted payment methods. At X Estate Sales LLC, we prioritize a smooth estate sale process. Our team handles traffic management and price negotiations. Typically, estate sales do not allow family members on-site, as it may be distressing to see strangers interact with personal possessions. That being said, we accommodate family members who wish to maintain access to their home during the sale.
What is for sale?
Is everything for sale?
Usually, yes. But sometimes the family keeps a few cherished items. If a realtor is involved, new owners might request specific pieces, which are then included in the contract. Otherwise, all items are priced and sold.
Types of estate sale merchandise
Estate sales are frequently packed with furniture, home decor, and various household goods. Shoppers may also stumble upon artwork and fine jewelry. Antique enthusiasts and private collectors often attend estate sales to find antiques and collectibles from different eras. Power and hand tools, automotive parts, and specialty items are also in demand.