Factors To Consider Before Hiring An Estate Liquidator

12/12/2017

The biggest factor that will determine whether your estate sales turns out to be a hit is the estate liquidator. A good liquidator like Estate Heirloom can get the best value for your items in the quickest way possible. And if you do not know how to hire a good estate liquidator, the following tips will definitely help you in that regard.


Know How The Liquidation Is Conducted


Your items will be liquidated in one of the two ways - by direct sale or by auction. A direct sale usually lasts a few days and you will be selling off the items at a predefined price. In contrast, an auction is conducted only on a single day and the public can bid on the items, with the person who bids the highest receiving the item.


Do Proper Research


There are thousands of estate liquidation services in the country. And many of them do not provide satisfactory services. If you end up hiring such services, you will make a lot less money on estate sales. This is why it is important to research on prospective liquidation services. Make sure that the service you are choosing has been in the field for many years and have a large number of satisfied clients. This will ensure that you only associate with good quality liquidation services like Estate Heirloom.


Fee And Other Charges


Make sure that you know about the fee and other charges of the estate liquidator in full. Normally, such services work on a commission basis, taking around 30% of the proceeds. As far as possible, get a contract that details the fees charged by the service. This will ensure that you do not have to cough up any extra money as 'hidden charges' and so on. If any liquidation service is unwilling to commit the final fee to you in the form of a written contract, then it is recommended that you look for other services.


Handling Money


Check out how they handle money. Normally, items are sold in cash. However, some services do allow using credit cards as payment. And to ensure that the visitors are able to pay for the items according to their convenience, it is better for you to only hire liquidation companies which also accepts payments by credit cards, debit cards, and so on. It might also turn out to be useful in the future for tax purposes.


Extra Items On Sale


Check with the liquidator whether there will be any extra items at the sale. Some services might bring the items of their existing clients to your estate sale. This is undesirable because the visitors might choose to spend money on items other than your own. And considering that this is your estate sale, having third party properties gobble up what could have been your sale can be damaging to clearing your items. So, be sure to lay down strict rules for the liquidation service that no third party items should be brought for sale during your liquidation.